Capital gains tax poses a significant consideration in Louisiana estate planning. It is a tax levied on the growth in value of assets—like stocks, bonds and property—between when you buy them and when you sell them. Employing strategies to limit capital gains tax will...
It is common to have apprehensions about tax audits. You may view it as an overwhelming, time-consuming process that potentially could lead to additional tax liability. While you cannot guarantee the prevention of a tax audit, you can take steps to reduce the...
Estate planning involves preparing for the management and disposal of a person's estate during life and after death. Through estate planning, you can protect your assets and provide guidance for your family. Understanding the necessary steps and what you should...
Parents of autistic children face daily struggles in caring for their offspring. Kids with special needs often find themselves reliant on Medicaid and other government assistance programs. However, they have other options in the form of special needs trusts (SNT), a...
No one welcomes the prospect of a tax audit. The process can stir feelings of anxiety and worry. This is particularly true in Louisiana, where state tax laws can present a complex maze to navigate. However, with a clear understanding of what the process entails, a tax...
A solid estate plan will include many documents to ensure your best interests are fully protected. Living wills are just one essential document that all estate planners must include for their own peace of mind. Living wills contain information on the type of medical...
When it comes to retirement accounts and life insurance policies, beneficiary designations dictate who receives what. As a result, proper management must be a part of your overall estate planning strategy. Keep in mind that designations supplant other estate planning...
When you have a will, succession typically follows your wishes with little problem. The process often moves along smoothly, and your wishes come to fruition. However, if you die without a will, meaning you die intestate, the matter of resolving your estate may not be...
Some estates in Louisiana must pay an estate transfer tax. Those over $60,000 in total worth typically have this taxation. The responsibility to ensure payment of the estate transfer tax falls on the heirs, who hold all accountability for this process. The report must...
Most people who own pets love and cherish them in a human-like manner. However, the law considers pets property. When thinking about your estate planning, it is critical to understand what the law says so you can protect your pet after your death. Luckily, the law...