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Should I establish a gun trust in Louisiana?

Estate planning involves analyzing everything we have and planning on where it goes after we pass. It’s not a pleasant task, but it is an essential step for our family and friends. We don’t want them to be caught up in court for years, fighting for our possessions.

One possession that usually causes problems is guns. They tend to be valuable and hard to handle in court. Luckily, there is a way to ensure your firearms end in the right hands – a gun trust.

Newer hernia mesh products may have defects

First developed in the 1950s, hernia mesh products have become an accepted method for repairing hernias. However, Louisiana residents should be aware that not all of these products are safe. Many are defective and may lead to long-term injuries and additional surgery. While severe pain is considered only a minor side effect in these cases, the worst complications include bowel obstruction and infection.

Defective hernia mesh products often lead to adhesion, where scar-like tissue bonds with the mesh and gives rise to chronic pain. While mesh products usually have an anti-adhesive coating, this can be quickly dissolved. Bowel obstruction, which may succeed adhesion, causes vomiting, makes the user unable to pass stool and can even cut off blood flow. It is a life-threatening condition.

Selling a business

Entrepreneurs living in Louisiana usually invest a tremendous amount of money, time and effort into developing their businesses. While many business owners plan to continue working at and developing their companies for a long time, others eventually decide that selling to somebody else is a good idea.

The reasons why somebody might sell a business are varied. In some cases, a business owner is ready to retire or forced to do so because of illness. If the owner does not have an heir who is interested in taking over the business, selling will be necessary. Similarly, owners may direct their attorneys to sell a business as part of an overall estate plan, with the proceeds being distributed among family members. In other cases, an entrepreneur may simply want to move on to new projects, including starting another business.

Uber and Lyft vehicles may not be in prime condition

According to a Consumer Reports study, there is a chance that individuals in Louisiana who use Uber or Lyft are riding in vehicles that have a current recall. The recalls range from the use of Takata airbags to engine defects that could result in a vehicle stalling. Consumer Reports acknowledges that it is unclear if anyone has been injured while in an Uber or Lyft vehicle that has a current recall.

The report analyzed 94,000 vehicles used to provide customers rides in Seattle and New York City. It found that one out of every six Uber or Lyft vehicles were under a recall. Consumer Reports says that these companies should do more to ensure that vehicles are safe to use. It also says that stronger regulations should be enacted as these companies grow and others could potentially enter the market.

What kind of partnership is best for my business?

When it comes to forming a business with one or more partners, you can set up a structure that best suits your needs. The decision you make will be based on how you and your partners want to approach the business. Here are a few different kinds of business structures that you might consider.

 

Complex family dynamics and estate planning

Some people in Louisiana may be facing challenging family dynamics while creating an estate plan. Many estate planning advisors suggest that a successful estate plan must have an element of communication with family members. Some people write a letter of intent to go with their estate plan and explain the choices made.

People should avoid creating scenarios with the estate plan that are likely to lead to conflict. One common mistake is making one adult child a trustee. This can put that person in opposition to siblings. A more impartial choice would be a corporate trustee. Some parents may want to disinherit one child entirely, but a better plan might be to leave a small amount to that child. There could be a caveat that challenging the estate plan will mean receiving nothing. Communication within a blended family may be particularly important to explain why children from different relationships may have been treated differently.

Entrepreneurs should contemplate buying existing businesses

Buying an existing business may be the best way for entrepreneurs in Louisiana to get a timely return on their investment. This is because most of the hard work as it relates to getting a company off the ground has already been completed. Typically, an established business already has a recognizable brand, key employees in place and a track record of financial success.

In many cases, entrepreneurs will need to use their own money to bootstrap a startup. However, there may be no need to spend anything to buy an existing company. This is because the current owner of the business may allow payment to be made in monthly installments. The payments are made using a percentage of the company's profits during the previous month. Buying more than 50% of the company's stock could also be an inexpensive way to acquire its assets.

Online wills present possible estate planning risks

Yes, there's something to be said for a Louisiana resident that makes the effort to actually make out a will. It's better to actually have some type of document prepared than to have nothing at all. But a do-it-yourself approach to will prep, like what's commonly available online, could result in some unexpected and potentially costly estate-planning mistakes.

It's estimated that only 4 out of every 10 adults in the U.S. have wills or trusts, so DIY online wills and estate packages can serve a purpose. But there is the possibility of overlooking important documents. Some sites offer a will only for an appealing lower price, even though there are other estate-related tools that can be just as important, like a trust, a financial power of attorney, and an advance healthcare directive. Such documents are usually fill-in-the-blank, which can also be problematic if assistance is needed.

What you should know about Louisiana personal injury law

Often, when a story about a personal injury case makes the news, the report focuses on the wild, and seemingly frivolous nature of the case. This type of coverage, as well as troubling data on the Louisiana court system, have prompted several groups to urge the Louisiana legislature to take action.

Data released recently by a watchdog group, underlines the argument in support of trying to curb lawsuits. While this information certainly indicates a concern, it may not necessarily address how many of the lawsuits were for people actually in need of help. A frivolous lawsuit is one thing. A necessary lawsuit to recover compensation for an injury is something else entirely.

Fiat Chrysler recalls Dodge Darts with shifter defect

Fiat Chrysler Automobiles N.V. has just announced a recall of more than 320,000 Dodge Dart compact cars all of North America. Louisiana residents should know that the 2013 to 2016 model automatic transmission Dart cars may have a defective part that allows the shift cable to detach from the transmission, preventing vehicles from shifting into park.

Those vehicles that are brought in will have their transmission side shifter cable bushing replaced. Fiat Chrysler has not stated when the repairs will be ready. In the meantime, the automaker recommends owners to make sure they shut off their vehicle and engage in the parking brake.

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