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January 2020 Archives

The benefits of timely estate planning

It isn't uncommon for Louisiana residents to procrastinate when it comes to estate planning. However, being proactive can give individuals a sense of control over what will happen to them and their assets if they get sick, become incapacitated or pass on. Common estate plan tools include a will, a trust, and powers of attorney. Living trusts may be preferable to wills as they don't need to go through the probate process.

Family of child killed by Ikea dresser to receive $46 million

Many people in Louisiana recognize the Ikea brand name. The Swedish company supplies furniture to millions of households, but the instability its three-drawer Malm dresser has left as many as eight small children dead and the company owing millions of dollars for product liability settlements. Ikea's most recent settlement with the family of a 2-year-old boy who was killed when the dresser tipped over totals $46 million. Three other similar settlements with families cost the furniture maker an additional $50 million.

Do you need an estate plan?

It goes without saying that no one gets excited about creating an estate plan. Even if you understand the importance of doing so, you won't be on the edge of your seat thinking about how much fun it will be.

Variables to consider when selling a company

There are many factors that business owners in Louisiana should keep in mind when it comes to selling their companies. By timing the sale properly, they are more likely to obtain top dollars for their organizations. There are many factors that may determine how valuable a company is to a buyer. For instance, if there isn't a lot of money available to purchase a business, it may sell for less than it otherwise would.

Selling a family business can be a lengthy process

Louisiana residents who are thinking about selling a family business have many transition options to explore. While all of them come with certain challenges, each also has its benefits. It's also important to note that timing should be considered. If a person is thinking about selling their business in one to three years, now is the time to start the process.

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