Setting aside money for the college education of a child, grandchild or other loved one in Louisiana or elsewhere is a smart and compassionate thing to do. A trust is one way to accomplish this goal as it provides a lot of flexibility with its terms and conditions. One of these types of trusts is called a pot trust. It is essentially a pot of money from which beneficiaries can take funds when they need them. One issue with this type of trust is that the assets may be distributed unequally, causing division among the beneficiaries.
Louisiana residents who are considering which one of the various types of legal business entities to use for their enterprise may want to consider creating a limited liability company, or LLC. An LLC is a business structure that is permitted by state law.
As we head deeper into the fall-time months, it’s important to be more aware than ever while driving.
Timeshares allow Louisiana residents to use their favorite vacation properties for designated weeks each year and can reduce their travel expenses considerably, but selling them can be difficult even in a booming real estate market. Timeshare purchases once included deeds like other real estate transactions, but they are generally sold today on what is known as a right to use basis. This is the same kind of legal arrangement used by gyms and spas to offer memberships. When timeshare owners pass away, their heirs are not usually required to continue making annual maintenance fees.
Entrepreneurs and business owners in Louisiana know financing is a part of almost every business. Small businesses often take out loans to cover raw materials or inventory costs, and many companies regularly use revolving lines of credit to pay employees or take care of other expenses. Financing the purchase of specialized equipment is also common. Equipment financing allows small businesses to make major purchases of necessary tools. It is used to pay for expensive farm machinery, office furniture, company vehicles, computers, information technology infrastructure and any other equipment a business might need.