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November 2019 Archives

Why estate plans need to be updated

Louisiana residents should ensure that they review their estate plans regularly. Director John Singleton, who died suddenly of a stroke in April, had a will from 1993 that had never been updated. Instead of a trust that would keep his estate plan private, make his wishes clear and appoint one or more people to handle his intellectual property, the will names the only one of his five children who had been born at that point as the heir.

Good reasons to establish an ESOP

Business owners who are looking to sell their companies may want to consider selling them to their employees. To do so, a company can establish an employee stock ownership plan, or ESOP. An ESOP allows an interest in the business to be held in a trust for the employee's benefit. When the CEO is ready to step down, the ownership stake is transferred to those who are beneficiaries of the trust.

Determining the right price for your business to sell

Building a business can mean creating an income stream for many years to come or potentially securing a lump sum payment from someone when you sell your established business to someone else. You have invested countless hours of your own time and significant amounts of money to build a business that succeeds. You want to ensure you receive your investment back when you sell.

Toyota recalls another 900,000 vehicles over Takata air bags

Louisiana car owners may have heard that Toyota recently announced a recall of 928,000 vehicles with defective Takata air bags. The recall is the last phase of the automaker's multiyear effort to replace the explosion-prone air bags with safe ones.

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