Detailed Answer

When you prepare a Louisiana small succession affidavit, your goal is to identify the property that actually belongs to the decedent’s estate and that may be transferred using the simplified small succession procedure. Start by focusing on ownership at the decedent’s date of death, not on who used or cared for an item after death. Follow these steps.

1. Identify property that must be listed

List property that was owned solely by the decedent on the date of death and that is located in Louisiana or otherwise subject to Louisiana succession procedures. Common items to list include:

• Bank and credit union accounts titled only in the decedent’s name (list the account type, bank name, and balance as of date of death).
• Cash, personal property, jewelry, household goods, and antiques located in the decedent’s home.
• Vehicles titled only to the decedent (include make, model, year, VIN, and title status).
• Stocks, bonds, and other securities owned individually by the decedent (state number of shares and value at date of death).
• Real estate owned solely by the decedent (describe the property, its location, and an estimated fair market value; note mortgages or liens separately).

2. Do NOT include items that pass outside the succession

Certain assets typically do not form part of the estate and therefore generally should NOT be listed on the small succession affidavit:

• Assets with an express beneficiary designation (payable-on-death (POD), transfer-on-death (TOD), designated beneficiaries on IRAs, 401(k)s, and life insurance proceeds paid to a named beneficiary). These pass directly to the named beneficiary.
• Property held jointly with right of survivorship, or community property already owned by a surviving spouse where Louisiana law or title gives the survivor ownership. In those cases, the survivor usually becomes the owner outside succession.
• Assets located entirely outside Louisiana, if a different state’s law applies and a separate succession or probate is required in that state.

3. How to treat accounts with zero or unknown balances

If you know an account or asset had a zero balance or was closed before death, you may either omit it or list it and indicate the zero balance. If you omit it, be sure you have documentation (bank letter or account statement) proving it was closed or had no balance. If an account’s balance is unknown, try to obtain records; if unavailable, list the account and mark the balance as “unknown” and explain efforts taken to find the balance.

4. How to show encumbered property or negative equity

List the asset’s gross value (fair market value at date of death) and separately list the mortgage, loan, or lien amount. Small succession filings should present both asset value and any encumbrances so the reader understands net equity. Do not put a negative number for the asset—show both values.

5. Joint accounts, informal co-ownership, and survivorship rights

Investigate the account title carefully. If a bank or broker account title shows co-ownership “with right of survivorship,” the surviving co-owner usually becomes the sole owner automatically; do not include such assets as part of the estate. If co-ownership is informal (a name added for convenience), the asset may still belong to the decedent and should be listed unless clear evidence shows otherwise.

6. Debts and claims

Small succession affidavits generally focus on transferring property to heirs or beneficiaries. However, you should be aware of known debts and mortgage liens because they affect net estate value. You do not have to list every possible creditor, but you should not conceal known valid liens or obligations attached to estate assets.

7. Valuation rules

Use fair market values as of the date of death. For fungible items like bank accounts, use the balance on that date. For personal property, estimate reasonable value or obtain appraisals for antiques and high-value items. When in doubt, include the asset and explain the valuation method you used.

8. Geographic and legal limits

The simplified small succession route applies only when the estate and the property meet Louisiana’s statutory requirements for the small succession procedure. If the estate contains complex property, disputes, or property governed by another state or country, do not rely solely on a small succession affidavit; consult an attorney.

9. Practical examples (hypotheticals)

Hypothetical A: Decedent had a checking account solely in their name with $2,350, a small safe-deposit box with personal items, and a life insurance policy naming a niece as beneficiary. List the checking account and the personal property; do not list the life insurance as an estate asset.

Hypothetical B: Decedent co-owned a home with a sibling as joint tenants with right of survivorship. The sibling has the surviving ownership interest by survivorship, so the house typically is not part of the succession and need not be listed.

10. When you can put zero or leave blank

It is reasonable to enter zero only when you have clear documentation confirming a zero balance (e.g., bank statement dated before death showing zero or a bank letter). Leaving a line blank risks an incomplete filing. If you genuinely do not know a balance, write “unknown” and describe your search efforts in an attached affidavit or exhibit.

Where to check and what documents to gather

• Death certificate (multiple certified copies).
• Bank and brokerage statements around the date of death.
• Titles and registration documents for vehicles and real estate deeds.
• Life insurance policies and retirement plan beneficiary forms.
• Mortgage documents, loan statements, and creditor communications.
• Employer or payroll records for unpaid salary or benefits.

For general Louisiana legislative information, you can start at the Louisiana Legislature website: https://www.legis.la.gov.

Bottom line: List assets that legally belong to the decedent’s estate in Louisiana at the date of death, give accurate valuations, disclose encumbrances, and omit assets that pass outside the estate by beneficiary designation or survivorship. If you are unsure about an item’s status, include it with an explanation or seek legal help.

Helpful Hints

• Start with one certified death certificate and get extra copies—agencies often require them.
• Request account statements covering the date of death from banks, brokerages, and credit unions; ask for written verification when possible.
• Check the decedent’s mail and email for account notices, insurance policies, or beneficiary forms.
• Do not assume a joint name equals survivorship—check the title language or ask the institution for written confirmation.
• Document every search you make for accounts or property (who you called, dates, and responses). Attach that documentation to the affidavit if necessary.
• If an asset has a beneficiary designation, obtain proof (policy or account forms) showing the beneficiary—this avoids unnecessary listing.
• When in doubt, list and explain. Omitting an asset later discovered can create legal problems for successors.
• If the estate might exceed the statutory limit for small succession or includes disputed ownership, consult an attorney experienced in Louisiana successions before filing.
• Use conservative valuations when unsure; provide how you determined the value (bank balance, invoice, appraisal).

Disclaimer

This article provides general information about Louisiana small succession procedures and is not legal advice. It does not create an attorney-client relationship. For advice about your specific situation, contact a qualified Louisiana attorney.