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Contesting a Will in Louisiana
Joe Crown was a drunk.  And a mean one at that.  He was also cheap. So cheap that he drafted his own will. Bad idea. Just to be mean, he left his only child, Tommy Crown, a bucket of pennies. He left the rest of his estate to his sister, who was mean too. After Joe ...

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Preserve Wealth for Yourself and Your Heirs Using Asset Protection Strategies
There are many techniques you can use to protect your assets, from giving them to loved ones to placing them in offshore trusts. It’s important to understand that asset protection isn’t about evading legitimate debts, hiding assets or defrauding creditors. Rather, it’s about preserving your hard-earned wealth in the face of unreasonable creditors’ claims, frivolous ...

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Don’t Let “Founder’s Syndrome” Impede Your Succession Plan
Are you the founder of your company? If so, congratulations — you’ve created something truly amazing! And it’s more than understandable that you’d want to protect your legacy: the company you created. But, as time goes on, it becomes increasingly important that you give serious thought to a succession plan. When this topic comes up, ...

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ABLE Accounts Can Benefit Loved Ones with Special Needs
For families with disabled loved ones who are potentially eligible for means-tested government benefits such as Medicaid or Supplemental Security Income (SSI), estate planning can be a challenge. On the one hand, you want to provide the most comfortable life possible for your family member. On the other hand, you don’t want to jeopardize his ...

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Fine-Tuning Your Company’s Compensation Strategy
As a business evolves, so must its compensation strategy. Hopefully, your company is growing — perhaps adding employees or promoting staff members who are key to your success. But other things can spur the need to fine-tune your compensation strategy as well, such as economic changes or the rise of an intense competitor. A goal ...

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5 Things to Know When You Hire an Estate Planning Attorney
Once you've decided that it's time to hire an attorney who specializes in estate planning, how do you go about doing so? It can be challenging to know where to start! "Where should I look? What questions should I ask initially? How do I know when I've found the right attorney for my legal needs?"  ...

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DAMNED IF YOU DO; DAMNED IF YOU DON’T (More Trouble with IRAs in Community Property States)
Isaac and Dorothy Boggs were happily married with three sons and resided in Louisiana.  When Dorothy became ill and suddenly died in 1979, the family was grief stricken.  Isaac, who was a career businessman, mustered up the strength to move on and eventually married Sandra Boggs.  Isaac retired from his long and fruitful career in ...

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THE OSTRICH APPROACH (Execute or Update Your Will Before It’s Too Late)
“If you fail to plan, you are planning to fail” Benjamin Franklin   In a fictional survey, four out of five people indicated they would rather have a tooth drilled without anesthesia than to read their own last will and testament.  Four out of five dentists approved the survey. The point being is that a ...

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PRO BONO PUBLICO (Physician Liability for Charity Care)
“Where there is charity and wisdom, there is neither fear nor ignorance.”   St. Francis of Assisi  Pro bono publico - a Latin phrase for professional work undertaken for the public good without charge, especially legal work for a client with a low income. Charitable care -  health care provided for free or at reduced prices to ...

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TO PORT, OR NOT TO PORT: THAT IS THE QUESTION (Lifetime Exemption Planning)
“A goal without a plan is just a wish.”Antoine de Saint-Exupery   Barb scurries about the house taking care of last minute details, while Mike is in the garage pulling down the decorations. Barb and Mike have hosted many family gatherings in their 40 years of marriage, but this year will be a little different.  Mike ...

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"Cooperation, which is the thing we must strive for today, begins where competition leaves off."   ~Franklin D. Roosevelt In 2005, the Tennessee Supreme Court declared the non-competition agreement between internist Dr. David Udom and his former employer Murfreesboro Medical Clinic ("MMC") invalid. In ending a two and a half year legal battle, the court ruled that a ...

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A GOOD WALK SPOILED (LLC Charging Order Protection Affirmed by 4th Circuit)
(Channelside Services, LLC v. Chrysochos Group, Inc. (La. App. 4 Cir., May 13, 2016)) “The Louisiana LLC Act affords LLCs different and greater protections …compared to Louisiana laws pertaining to creditors of corporate shareholders or partners in a partnership.”   ~Fourth Circuit Court of Appeal,  State of Louisiana The Starter Paul Garfunkel, a Louisiana resident, ...

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A BUNDLE OF MAGIC STICKS (Beneficiary Controlled Trusts Now Authorized in Louisiana)
(La. R.S. 9:2114.1 (Effective August 1, 2015)) “THE WAND CHOOSES THE WIZARD, MR. POTTER.   IT IS NOT ALWAYS CLEAR  WHY.”   ~J. K. Rowling, Harry Potter and the Sorcerer’s Stone Law School of Wizardry In the first year of law school, students are introduced to the concept that property rights are like a bundle of ...

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MISSISSIPPI BECOMES DOMESTIC ASSET PROTECTION TRUST JURISDICTION (And Beats Louisiana In The Trust Business Game)
“MOST PEOPLE WANT SECURITY IN THIS WORLD, NOT LIBERTY.” H.L. Mencken OLD RIVALS Mississippi and Louisiana are close competitors on many fronts, such as football, education and diabetes.  However, Mississippi has surged ahead of Louisiana  with the recent enactment of the Mississippi Qualified Disposition in Trust Act" (MS Code Section 91-9-701  et seq ). In so ...

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EVERY WORD COUNTS (IRS Busts Discretionary Support Trust for Child)
(Duckett v. Enomoto, D. Ariz. 2016) “BE SURE WHEN YOU STEP, STEP WITH GREAT CARE AND GREAT TACT.  AND REMEMBER THAT LIFE’S A GREAT BALANCING ACT.” ~Dr. Seuss Dr. Dennis Enomoto was a gifted and dedicated physician, but a terrible business person.  After failing to meet his tax obligations in 2007 through 2011, the IRS ...

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