Business and Family Law News
Business Succession Planning – Exit Planning for a Successful Departure
If you are a business owner and are considering departing from your business to pursue retirement, you have probably started to consider your exit strategy. Planning for a successful departure is something I see more often than the traditional sale to a third party. Resources pertaining to selling to a third party often emphasize the
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The Edward J. McCloskey Succession Package
It’s not always easy planning the distribution of your assets. The task can feel daunting because of the amount of detail and planning involved. To make getting all your Succession materials in order easy, The Law Office of Edward J. McCloskey is now offering Individual and Couples Succession packages. This package includes everything you need
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Estate Planning for Families with Children Who Have Special Needs
My theme this month has generally been constant reminders for my clients and readers to keep their Estate Planning documents up to date. A frequently reviewed estate plan is important for everyone, but it is doubly important for those who have dependents with special needs. Special needs planning covers all of your bases: Finances, Public
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Four Common Estate Planning Myths That Can Cause Long-Term Inconveniences
Estate planning is one of the most misunderstood areas of Succession Law. It is also one of the most predictable hiccups in a person’s legal roadmap. More often than not, we hear one of the following three statements at the mention of Estate Planning. “I’m too young.” “I don’t have enough assets.” “I need to
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What is a Living Will, and Why Does it Matter?
Unexpected, end-of-life situations can happen to anyone at any time. It may sound ominous, but it is a good reminder that there is always a reason to get your affairs in order. You may have already written your Will and think you have everything all squared away, but what about your Living Will? A Living
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You Have Been Named the Agent in a Financial Power of Attorney. What Next?
Our friends and family will make a lot of big requests of us in our lifetimes. Maid of Honor. Best Man. Godparent. Another, slightly less exciting, responsibility is when you are named as the agent in a Financial Power of Attorney. This is a huge responsibility, but it doesn’t have to be as intimidating as
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Answering Common Questions About Louisiana Successions Law
Every state is different in the way it manages Succession Law and the subsequent transfer of property to heirs after a person’s death. A Succession is the process of settling a deceased person’s estate by managing their assets and ensuring all debts are paid. If you are not sure where to begin, we hope this
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COVID-19 Update: How Are You?
How is everybody holding up? If someone had told me a week ago the COVID-19 pandemic would have such a far-reaching effect on the state of Louisiana, I would have had a hard time suspending my disbelief. But here we are, and there are still plenty of unanswered questions surrounding COVID-19. I want to assure
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Happy Carnival- Fat Tuesday is Right Around the Corner!
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Everything You Need to Know About Transferring Business Ownership
Whether you are passing on the family business or you’ve chosen a worthy successor from a (no doubt) vast pool of prospects, there are a few, critical, steps you need to take before transferring business ownership. When it comes to passing on your business, many people underestimate the amount of time it takes to make
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