How to Minimize or Simplify Succession: Strategies for a Seamless Transfer of Assets
Succession (Louisiana’s term for probate you hear in other states) can feel like a complicated and lengthy process, especially when it comes at a time when families are already dealing with loss. With the right planning, however, there are ways to make things easier for your loved ones. By taking...
Revocable vs. Irrevocable Trust
When it comes to estate planning in Louisiana, trusts can be valuable tools for managing your property during your lifetime and ensuring it is distributed according to your wishes after your death. Two primary types of trusts are revocable and irrevocable trusts. Each has its unique features and benefits, and understanding...
The Impact of Marriage and Divorce on Your Estate Plan
Life changes, such as marriage and divorce, significantly impact your estate plan. Whether you're newly married, considering a prenuptial agreement, or going through a divorce, it's essential to adjust your estate plan to reflect your new circumstances.
Marriage: Updating Your Estate Plan for Your New Life
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...
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...
