Legal Question in Wills and Trusts in Louisiana

Yes, but you can't accept the assets and not the debts. You would not be liable for any debts in excess of the assets, though.

Yes, the "inventory" part means that you can inventory the succession assets and debts and decide if you want to accept the succession then. If the debts outweigh the assets, you can disclaim ownership of everything. As Mr. Macguire said, if you accept the assets, you accept the debts too. Benefit of inventory only means that you are giving yourself an out if the debts outweigh the assets. You can't accept one without the other.

That being said, a good succession attorney can often get the debts reduced through shrewd negotiation and legal analysis--thus turning a net loss into a net gain for you. You should gather all of the information on the assets and debts and bring it all to a succession attorney in your area.