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May 2018 Archives

What to know about selling a business

Business owners in Louisiana and elsewhere should take time to prepare themselves prior to selling their companies. If they know what the company is worth, it generally makes it easier to spot a fair deal and walk away from the business feeling content. To determine how much the company is worth, prospective sellers should look at what similar companies have sold for in the past.

How to create a successful estate plan

Often, estate plans fail to produce as their creators believed that they would. The good news is that many of the failures can be prevented. Typically, an estate plan doesn't work because of human error or some other human element to the plan. For instance, a Louisiana heir may not be ready to inherit a home, money or other property from a parent or grandparent.

Reducing distracted driving among truckers

Distracted driving is all too common in Louisiana and the rest of the U.S., with cellphone use alone causing 26 percent of all crashes in the country. Every day, according to data analytics firm Zendrive, an estimated 69 million Americans use their phone at least once behind the wheel. GPS and in-car entertainment systems are just some other forms of technology that drivers have become addicted to.

Common myths about starting a business

Starting their own business is a dream for many Americans. Maybe you have a big idea you are dying to get on the market, or you want to make your side-hustle a full-time job. Regardless of the business idea, starting your own business can also seem like a big risk.

Estate planning errors that should be avoided

There are a number of people in Louisiana who could be making estate planning errors. Of course, one of the most common errors is neglecting to have an estate plan at all. If property owners die without a will or a trust, the state determines who gets what assets. Ultimately, this may not be in line with the person's wishes.

Succession planning aids business owners nearing retirement

At some point, business owners in Louisiana will need to think about retirement. Stepping away from a business could involve selling it or passing the reins to a family member or other successor. Both situations require careful planning to consider issues such as retirement income and the needs and abilities of heirs.

Choosing between an LLP and an LLC

If you are starting a new business, you have many different ways of organizing it to suit your situation. If your organization is a partnership of some kind, one of the most important choices you have to make is whether you want it to be a partnership or a corporation.

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