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April 14, 2015 By Lydia J. Alford

Thirteen Legal Myths

Don’t be fooled. See the post published on LinkedIn Pulse: 13 Legal Myths. See our Wills and Estates/Probate Planning, Business Law, Creditor and Debtor Rights and Real Estate Law pages for a discussion of the real Louisiana laws.

Filed Under: Business, Construction, Estate Planning, General Tagged With: Business, debt collection, Estate Planning, legal myths, LLC, wills

December 6, 2011 By Lydia J. Alford

Exception to penalty for failure to timely rollover IRA

To avoid penalties and taxes, liquidated IRAs must be rolled over within 60 days. In a recent Private Revenue Ruling, the IRS waived the 60-day period where the failure to meet the deadline was due to an error by the taxpayer’s financial planner. While this ruling is technically limited to this taxpayer, it does provide […]

Filed Under: Estate Planning Tagged With: Estate Planning, IRA

November 17, 2011 By Lydia J. Alford

Louisiana studies pet trusts

pets

Is Louisiana ready for trusts for pets? Remember the multi-million dollar trust Leona  Helmsley created for her beloved dog, Trouble? Well, trusts for pets are not currently allowed under Louisiana law.  But, that may be about to change. The Louisiana legislature passed a resolution during its 2011 session asking the Louisiana Law Institute to study the issue.  The […]

Filed Under: Estate Planning Tagged With: Estate Planning, trust

November 9, 2011 By Lydia J. Alford

Parents are forced to leave portion of estate to children with bipolar disease

Per three court decisions, children with bipolar disease are “forced heirs”. This is a Louisiana inheritance concept whereby parents are “forced” to leave a part of their estate to certain children. Prior to 1995 all children were forced heirs and were entitled to inherit unless disinherited. In 1995, forced heirs were redefined and are now: 1.  Any child, […]

Filed Under: Estate Planning Tagged With: bipolar disease, Estate Planning, heir

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