Small-business owners in Louisiana, depending on the structure of their businesses, may need to consider the state’s succession laws when planning for their organization’s continuity. At the office of Dale M. Maas, Attorney at Law, we make it a priority to help her clients craft estate plans that take into account their personal goals for their families as well as the futures of their companies.
While this could seem complicated at first, there is often an elegant solution to most of these types of challenges. It often helps to look at the situation from multiple perspectives before attempting to formulate a strategy.
To do this, our first step is typically collecting as much information as possible. This could involve interviews with our clients, reviews performed by accountants and various other investigatory measures. After gathering all the relevant information, we then proceed to help formulate a plan.
When considering an estate plan, we think critically. For example, the benefits of some structures, such as partnerships and sole proprietorships, might not outweigh the risks of others, such as limited liability corporations. If this turned out to be the case after analysis, continuity could be preserved by incorporating.
The final step is to maintain the plan. Many of our clients come to us when they first realize that their company is something they have a responsibility to protect. This often happens early on in their success. As their businesses grow and change, we stand by them to advise and provide appropriate solutions at every step of the way.
Regardless of where you are in your continuity plan, and regardless of the size of your business, considering the idea from every perspective possible could be beneficial. To learn more, please continue reading on our main website.