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February 2020 Archives

How to sell a company

Business owners in Louisiana may decide one day that they would like to sell their companies. However, it can be difficult to determine exactly how much a business is worth or what steps need to be taken to get it ready to sell. A buyer will typically consider how much money an organization makes when determining an offer price. Buyers will also consider the types of tangible assets that a company has when determining how to structure its offer.

Tips for avoiding estate tax and protecting assets

There are a number of ways people in Louisiana can structure their estate to protect assets from a divorce. Parents may want to place assets intended for their children in a revocable trust with a protector. The child can be named as the trustee, but the protector takes over if there is a lawsuit or other issues that could cause the assets to be seized.

Who should you trust as your power of attorney?

When you're choosing someone to take on the role of your power of attorney, it's important that you choose the right person. You may even want to choose two or three people whom you believe could suit the role, so that one could step down and leave the task to another person if they don't feel they can handle it.

Estate plan tips for people of all ages

Louisiana residents and others may choose to wait until later in life to create an estate plan. They may also feel confident that a will is adequate to meet their needs. However, it can be a good idea to start building an estate plan as early in life as possible, and it can include trusts, life insurance policies and a power of attorney. Ideally, individuals will draft both financial and medical power of attorney documents as soon as they graduate from college.

Mistakes that are commonly made when purchasing a company

There are several mistakes that entrepreneurs in Louisiana and elsewhere tend to make when purchasing their first businesses. For instance, they may take on more debt than they can afford to repay. Individuals who spend too much to acquire a business may not have the cash needed to pay employees or take other steps to expand the company.

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