Estate Planning For Small Businesses In Louisiana
Estate planning assists with the seamless transfer of assets and continuity of your business. Whether you are an entrepreneur planning for the future, a legal advisor, or a family member involved in a family-owned business, understanding estate planning and having a robust plan in place will go a long way toward...
Understanding Forced Heirship in Louisiana Estate Law
The principle of forced heirship sets Louisiana apart from other states, impacting how assets are distributed upon death. Understanding the principle of forced heirship is necessary for anyone involved in estate planning or administration within Louisiana, as it significantly impacts the distribution of assets and the drafting of wills.
What Are the Pros and Cons of Being a Trustee?
Trusts are an essential component of many estate plans. They serve as a vehicle for passing assets on to beneficiaries in a way that can simplify probate and mitigate or avoid many tax consequences. However, they need trustees to function. A trustee is a person or entity that manages a...
What Qualifies as a Veteran’s Disability?
According to some statistics, as many as 3.5 million veterans have disabilities that adversely affect their ability to work for an income. While many of these individuals may be eligible to receive veteran’s disability benefits, the rules around eligibility can often feel frustratingly opaque. A Louisiana veterans’ benefits attorney can help you...
Guardianship For Adults With Developmental Differences
The ability to manage one’s own affairs is among an adult’s most essential rights. However, in some cases, an individual might lack the capacity to make decisions that are in their own best interests. One such circumstance is when an adult has significant developmental differences.
The Louisiana Uniform Adult...
The Basics of Louisiana Estate Planning: Understanding Your Options for Asset Protection
Estate planning can feel like an overwhelming task. For some people, the most significant challenge is beginning to imagine what life will be like for their loved ones when they are no longer around. For others, the process feels so logistically complicated that they do not know where to begin.
Succession Planning Challenges in Family-Owned Businesses and How to Overcome Them
In the scenic area in and around Baton Rouge, Louisiana, family values and business aspirations often intersect. That’s why succession planning here is a vital aspect of preserving the legacy of family-owned businesses. This process is fraught with challenges that require the legal knowledge and skills Kallio Law Firm, LLC provides. Our...
Maximizing Tax Benefits in Charitable Giving Through Estate Planning
While most people focus on providing for their loved ones through their estate planning, charitable giving might be something you want to add to your overall plan. Charitable giving lets you help causes that are close to your heart while at the same time allowing you to minimize tax burdens on your...
How to Properly Plan for Your Aging Parents’ Long-Term Care
Seeing your parents age is more than just emotionally upsetting — it can be financially stressful. Effective planning is crucial, yet it can be tough to get started, and that means you could end up in the middle of a crisis with fewer options for your parents. It’s important to start today...
Estate Tax vs. Inheritance Tax: Key Differences And Planning Considerations
Many people assume estate tax and inheritance tax refer to the same thing. That’s not the case. Understanding the distinction between these taxes can help you choose better estate planning strategies to protect your legacy. But what is the difference between these two types of taxes?
What...