Blog - Ogden Law, LLC

LLC vs. Sole Proprietorship: Which is Right for Your Louisiana Business?

October 22, 2024

When starting a business in Louisiana, one of the first decisions you’ll need to make is choosing the right business structure. Two of the most common options for small businesses are the Limited Liability Company (LLC) and the Sole Proprietorship. Each structure offers unique advantages and potential drawbacks, so understanding their differences is essential to making an informed choice that suits your business needs. Sole Proprietorship: The Simple StartA sole proprietorship is the simplest and most common form of business structure. It’s easy to set up and operate because it doesn’t require formal registration beyond necessary local business licenses. Advantages of a Sole Proprietorship: Simplicity: One of the main appeals of a sole proprietorship is how easy it is to establish. There’s no need to file special paperwork with the state of Louisiana, and costs are generally low. Full Control: As the sole owner, you have complete control over all

The Importance of Estate Planning: Securing Your Family’s Future

September 23, 2024

Estate planning is often overlooked or delayed, but it is one of the most critical steps you can take to protect your family’s future. Whether you have substantial assets or a modest estate, planning for how your property and financial matters will be handled after your death or during incapacitation provides security and peace of mind for your loved ones. Estate planning is more than just creating a will; it involves a comprehensive approach, including trusts and powers of attorney, to ensure that your wishes are carried out according to your intentions. Key Elements of an Estate Plan A comprehensive estate plan typically includes several components to ensure that all areas of your financial and personal life are covered. The three most important tools in any estate plan are wills, trusts, and powers of attorney. Steps to Create a Comprehensive Estate PlanCreating a comprehensive estate plan doesn’t have to be

Navigating Succession in Louisiana: What You Need to Know

August 21, 2024

Succession, also known as probate in other states, is the legal process of settling a deceased person’s estate in Louisiana. Whether or not the deceased had a will, the succession process ensures that assets are transferred to heirs or legatees while resolving any debts or taxes. Here’s what you need to know to navigate this process smoothly. Types of Succession in LouisianaLouisiana recognizes two primary types of succession: Testate and Intestate. Steps in the Succession Process How to Handle Succession Effectively When to Consider a Succession Without AdministrationLouisiana allows for certain small estates to bypass the full succession process through an affidavit of small succession. This is available for estates valued at $125,000 or less, making it a faster and less expensive option. Protecting Your Estate with Estate PlanningProper estate planning, including creating a will or trust, can streamline the succession process and protect your loved ones from unnecessary stress.

Louisiana Executor Selection: A Step-by-Step Guide

October 9, 2023

Choosing an executor for your will is a paramount decision that demands thoughtful consideration and insight. At Ogden Law, we walk alongside Louisiana residents, steering them through the intricate path of estate planning and executor selection. This guide provides step-by-step assistance on how to navigate through the delicate procedure of appointing an executor who ensures your final wishes are honored. Step 1: Understand the Role of an ExecutorBefore diving into selection criteria, it’s vital to grasp the expansive role an executor plays in managing your estate posthumously. An executor is entrusted with responsibilities such as settling debts, managing assets, and ensuring beneficiaries receive their inheritance as per your will. Step 2: Evaluate Potential CandidatesWhen contemplating your Louisiana Executor Selection, aim for someone who is: Trustworthy and maintains high integrity Organized and adept at managing financial matters Willing and able to commit to the executor’s responsibilities In Louisiana, legal qualifications are

Benefits of Having a Will in Louisiana

August 31, 2023

Understanding the benefits of having a Will in Louisiana is crucial. If you should die without having a Last Will and Testament (“Will”), your estate will be administered, and your property will devolve in accordance with state law, probably not in the manner you would want. The benefits of having a Will in Louisiana allow you to dictate how you want your estate administered and to whom and in what manner you prefer to leave your property. For instance: You can appoint a trusted person and successors who you believe will faithfully manage your estate and ensure the provisions of your Will for the distribution of your property are faithfully carried out. You can appoint a person, known as an executor, to act independently to avoid costly procedures for administering your estate that may occur under usual procedures. Without such a provision, an expensive conflict may arise as to who

Estate Planning: The Smart Choice for Securing Your Legacy

April 21, 2023

No one likes to think about their own mortality. But, as Benjamin Franklin once said, “In this world nothing can be said to be certain, except death and taxes.” This quote rings true when it comes to estate planning. At Ogden Law, we understand the importance of planning for the future and the value of having an experienced attorney by your side. In this blog post, we will discuss the importance of estate planning and why using an experienced attorney is a smart decision. Why is Estate Planning Important? Estate planning is the process of organizing your assets and designating who will receive them after your death. It’s crucial to have a solid plan in place to ensure that your wishes are carried out and your loved ones are taken care of. If you don’t have an estate plan, the state will distribute your assets according to intestacy laws, which

Ogden Law Blog