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For people in Louisiana who have amassed substantial assets, lifetime gifting is important to consider. While the federal estate and gift tax exemption is currently $11.58 million per person or $23.16 million per married couple, this could change. Lifetime gifting...
In Louisiana, your estate goes into succession after you die. This means that the state verifies your heirs and beneficiaries. If a will exists, the state probates it as well. To create the best deal for your loved ones after you die, it's important to understand...
When you start a family business in Louisiana, you want it to last. But few businesses make it into the second or third generations. Only 30% of companies have a business succession plan in place for when their founder or leader passes. Making a business succession...
A 529 college savings plan is a good idea. Putting money away now for education helps fight against growing educational costs in the future. With a 529, growth and earnings on it are tax-free as long as they are used for educational purposes. In addition, this account...
Heirs may have different ideas about "fair" when a will goes through probate in Louisiana. One relative might believe he/she is "owed" a set amount of money or possession of a particular heirloom. Although someone may feel a specific way, hurt feelings or entitlement...
Not everyone takes part in formal estate planning, which could be a mistake. Others may take steps to devise a will, draw up a power of attorney agreement, and other measures. Writing and signing a legal will and placing it in a Louisiana safe for decades might not be...
Creating an estate plan is important for Louisiana residents. While the current federal estate tax exemption is quite high, the tax burden can still be an issue for some people. There are, however, a few ways that this can be addressed. What exactly is lifetime...
Legal proceedings may come with many steps and responsibilities. When two highly involved legal duties converge, things may seem even more complicated. Divorce proceedings and estate planning in Maryland both require significant attention. Performing both...
Many individuals choose to donate to charity throughout their lives, always ready to lend a helping hand through finances in Baton Rouge, Louisiana. You can choose to continue to give even after you pass, however, through a charitable trust. If you want to start a...
A challenge shared by many Louisiana residents who are making an estate plan is what do to about beneficiaries who may have certain issues, such as substance abuse or financial irresponsibility. You may want to leave an inheritance for them, but you may also be...