Writing an estate plan could be among the most helpful things a parent or grandparent could do to help their families. When someone passes away, the beneficiaries may receive that person’s assets as dictated in a will or trust. However, the children or grandchildren...
With estate planning, you have an opportunity to balance the wealth of your estate for and during retirement. The balancing act that many residents in Louisiana undergo deals with the legacy they hope to build. With proper estate planning, you can organize your estate...
If you’re planning your retirement in Louisiana, you may also want to work on your estate plan. Your estate plan can be completed alongside your retirement plan while you already have all of your financial documents in front of you. Here are five reasons why...
In the immediate aftermath of the death of a loved one, there can be significant emotional upheaval and confusion. And these emotions can be even more complicated to process if you are attempting to access some of this person’s funds to pay for necessary funeral and...
Family dynamics can be one of the hardest variables to account for when a loved one decides how to structure their estate plan. For instance, a parent may want to leave their Louisiana home to their two children. However, doing so may be problematic if one of them...
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...