Detailed Answer

When an executor receives a creditor’s settlement demand during a Louisiana succession, gathering the right documentation helps verify, dispute or negotiate the claim efficiently. Below is a breakdown of the core documents and statutes you’ll need to review and assemble.

1. Verify the Creditor’s Standing

• Proof of Claim or Demand Letter: Obtain the original correspondence or formal notice outlining the debt amount, basis and due date.
• Supporting Invoices or Contracts: Collect copies of invoices, promissory notes, service agreements or purchase orders that substantiate the claim.

2. Essential Succession Documents

• Letters Testamentary or Administration: Official court-issued letters confirming your authority as executor.
• Certified Death Certificate: Required to open the succession and validate your role.
• Last Will and Testament: Review any testamentary provisions that may affect creditor payment priorities.
• Succession Inventory: Prepare and file the inventory within 90 days of appointment under La. C.C.P. art. 3031 (https://legis.la.gov/Legis/LawSearch.aspx?d=73548).

3. Financial Records and Asset Valuations

• Bank Statements and Account Records: Document all deposits, withdrawals and transfers related to estate funds.
• Appraisals of Real and Personal Property: Secure written valuations to confirm estate value and availability of assets.
• Insurance Policies and Bonds: Include life insurance, property insurance and any executor bond if posted.

4. Estate Accounting and Distributions

• Preliminary Accounting: Show receipts, disbursements and anticipated expenses to date.
• Creditor Notice Records: Keep copies of certified mail receipts or published notices to known and unknown creditors per La. C.C.P. art. 3033.

5. Legal and Compliance Deadlines

• Creditor Filing Deadline: Generally, creditors must file within three years of the decedent’s death for certain nonjudicial claims per La. C.C. arts. 3498–3501; for judicial claims, see La. C.C.P. art. 1971 (https://legis.la.gov/Legis/LawSearch.aspx?d=86715).
• Statute of Limitations: Confirm any applicable limitation period on the underlying debt (e.g., five years for written contracts under La. C.C. art. 3499).

Disclaimer: This article provides general information about Louisiana estate administration. It does not constitute legal advice. Always consult a qualified attorney for guidance about your specific situation.

Helpful Hints

• Organize all documents chronologically to streamline review.
• Keep original documents in a secure, fire-proof location.
• Maintain clear communication with creditors, noting dates and contacts.
• Consult an estate attorney promptly if a claim appears inflated or invalid.
• Regularly update the succession inventory as new assets or liabilities emerge.
• Verify that payment priorities follow Louisiana’s creditor preference rules.