If you’ve ever tried to read a trust document, you’ve probably noticed something right away: these things can get complicated. And when you start thinking about what happens after you’re gone or no longer able to manage things yourself, one question tends to pop up: “Can I give my successor trustee the power to make judgment calls?” Short answer: yes, you can. But the better answer is: yes, and you should think carefully about how much discretion you want them to have, because it can … [Read more...]
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How to Avoid Probate in Louisiana (And Why Most Families Try To)
Most families don’t think about probate until they’re already in it. In Louisiana, probate—called succession—is the legal process of transferring assets after someone passes away. It can take time, involve court oversight, and create additional stress for families during an already difficult period. That’s why many families start asking the same question:Is there a way to avoid it? What Is Probate (Succession) in Louisiana? In Louisiana, probate is referred to as … [Read more...]
When Estate Planning Fails: Family Infighting and the $10 Billion Lakers Sale
The recent $10 billion sale of the Los Angeles Lakers provides a powerful cautionary tale about Estate Planning, family conflict, and business succession. Despite a sophisticated Trust designed to keep ownership in the Buss family, structural flaws and sibling rivalries ultimately dismantled Jerry Buss’s legacy. This case illustrates why even well-drafted Estate Plans can fail when they ignore real-world dynamics. Learn the critical lessons every family business owner should consider before it’s … [Read more...]
Trustee Selection: Why It Matters and How to Get It Right
Selecting a trustee is one of the most important—and most misunderstood—decisions in Estate Planning. While many individuals focus on who will receive their assets and how those assets will be distributed, far fewer consider the impact the Trustee will have on the management and distribution of those assets. This article explores why trustee selection matters, common pitfalls that lead to conflict and litigation, and how thoughtful planning can help preserve both family harmony and a lasting … [Read more...]
How Louisiana Families Can Shield Their Savings from Long-Term Care Costs
Many families are shocked to learn how quickly long-term care expenses can drain a lifetime of savings. Across the United States, roughly one in three adults over age 65 will eventually require some form of long-term care, whether through assisted living, nursing home care, or in-home assistance. Unfortunately, the cost of that care often arrives with little warning and can place enormous financial strain on retirees and their families. For Louisiana families who spent decades building … [Read more...]
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