| June
1, 2002© |
Paul J. Breaux completed
Pharmacy School in 1965. After practicing pharmacy
for several years, he entered L.S.U. Law School,
graduating in 1972, and he has practiced law since
then. His practice is located in Lafayette, Louisiana. |
The Louisiana probate procedure for the administration of
an estate has now been significantly streamlined and modernized
by a new law allowing the independent administration of estates.
Use of this new law can lower fees and costs that heirs
or beneficiaries (called successors) in a Will must pay to
receive their property. Independent administration will continue
to require the establishment of court jurisdiction with an
affidavit of death and heirship, the filing of the Will with
the court, and completion of the steps for qualification of
the Independent Administrator, also called the Independent
Executor. After these steps are completed, the court will
issue a certification called "Letters of Independent
Administration," and the Independent Executor does not
need to return to court until he or she is ready to close
the succession.
With the Letters of Independent Administration in hand,
the Independent Executor has all rights, powers and authorities
to act without the requirement of application to the court
that simply could not be avoided under the old law. This ability
to act without each time having to return to court is the
very heart of the new law. This means it is not necessary
for the court to approve in advance such actions of the Independent
Executor as payment of debts and the sale of personal property
or real estate. In addition, no notices need to be published
in the newspaper – which prevents delays, court costs
or publication expenses – for the business or action
to be taken.
An Independent Executor who wishes to sell real estate can
enter into a listing agreement with a broker, or an agreement
to sell directly with a buyer, and then appear at the closing
with a certified copy of the Letters of Independent Administration.
These Letters serve as evidence of his authority to sell the
property.
If the value of a particular asset, because of changes in
market conditions unique to it, will drop significantly in
a matter of only days, an Independent Executor can move to
sell immediately. This prevents a depreciation in the value
of the inheritance of the heirs because he can do this without
having to obtain prior court approval.
The last point to note is that the new law does not apply
automatically to a succession. Therefore, if a person wants
to be assured his heirs will have the benefits of the new
law, he must prepare a Will and state in it that his succession
is to be subject to independent administration. If a Will
has already been done, a person can make the stipulation in
a Codicil. If a Will or Codicil states the testator wishes
that there be an independent administration, the court is
required to issue an order granting Independent Executor status
and the Letters of Independent Administration.
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