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January 2019 Archives

What happens if a person dies intestate

Some people in Louisiana might think they do not need to create a will because they have so few assets. However, a will can also be used to name a guardian for any minor children. Family members may go to court if a guardian is not named, but the relative who is granted guardianship might not be the one a parent would have chosen. This is also true if the person is responsible for the care of an adult who is mentally incapacitated.

What to do in case of an audit or regulatory proceeding

Louisiana business owners might wonder whether they are vulnerable to audits or regulatory procedures. Any business could be subject to these, but there are steps a company can take to reduce the likelihood of such a thing happening. Companies can also protect themselves if they do face audits or regulatory procedures.

Incentive trusts control assets meant to benefit addicts

The prevalence of opioid addiction in Louisiana and throughout America rightly concerns people who intend to bequeath an inheritance to someone troubled by serious substance abuse. A benefactor worried that money given to an heir addicted to narcotics will encourage drug buying can explore the potential of setting up an incentive trust.

Key items during a merger or acquisition

When Louisiana entrepreneurs think about buying or selling firms, they may have plenty to consider before finalizing a transaction. There are a number of reasons why companies may consider mergers or acquisitions. In some cases, a business owner may be ready to move on, and selling the company provides a clear and profitable path forward. On the other hand, a large company might benefit from obtaining unique skills or technologies developed by a smaller firm. In still other cases, smaller companies may have a difficult road ahead while a larger enterprise may function better in the business climate.

What to know about creating a second trust

Louisiana residents and others may find that a trust is an effective estate planning tool. In fact, individuals can create more than one trust to meet their needs. Unless a new trust is created specifically to nullify an existing document, both trusts can be valid at the same time. However, there may be no need to create a second trust to amend or revoke an existing one.

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