Estate planning is an important area of law that enables you to settle your estate in a manner that maximizes the financial security of your loved ones. By forecasting and planning for the unexpected, you can ensure that your wishes are carried out according to your preferences and the needs of your family. Richard Tomeny offers services in Estate Planning including wills, powers of attorney, medical powers of attorney and trusts. It is important for individuals and small business owners to have an estate plan in place before a crisis arises.
If you own a business either as a sole proprietor, a member of a limited liability company or a shareholder in a corporation, business succession planning is critical to assure the smooth transition and continuation of the business upon your death. Louisiana statutory law provides certain default provisions for the transfer of ownership of an interest in a limited liability company upon death of a member. The statutory default transfer upon death provisions generally result in an undesirable outcome for the surviving spouse or heirs of the deceased business owner.
Do you know that your interest in a limited liability company ceases upon your death as to the management of the business, your estate and heirs only have a right to distributions and the executor of your estate as well as the heirs do not have a right to see future financial records of the business unless you provide otherwise in the Operating Agreement? The default transfer provisions will apply in the absence of a written operating agreement among the members that clearly provides that the surviving spouse or heirs of a deceased member will be admitted as members of the limited liability company upon the death of a member. To avoid the undesirable statutory default provisions, a written operating agreement must be in place prior to the death of its member or members.
Richard works with his clients to understand their needs and to answer questions about these matters. He will then prepare and put in place the legal documents required to assure a smooth transition.
Richard has experience in both simple probate cases and complex contested probate cases. He has successfully represented heirs and surviving spouses in contested successions. Louisiana probate procedure is designed to streamline the process and the costs for small successions. For larger estates the law provides for independent administration of the succession by the succession representative.
Independent administration is generally less costly and results in a shorter administrative period. Individuals should provide for independent administration of their estate in their will. The succession of a person dying without a will is eligible for independent administration provided that all the heirs agree to independent administration. The key to avoiding complex and protracted probate proceedings is with a good estate plan.
Before a crisis impacts your life, you'll want to be sure all of your affairs are in order. With his estate planning services, Richard J. Tomeny Jr. Attorney at Law assists clients with their affairs in Baton Rouge, LA. He walks them through the estate planning process to specify what happens with their property, who will receive their assets and more.
Call 225-334-8080 now to set up a consultation.
Probate law is typically a stressful process. You're already dealing with the loss of a loved one - you shouldn't have to concern yourself with legal matters as well. That's why you should come to attorney Tomeny for estate planning services. He serves every client diligently and strives to ensure that the probate process goes smoothly. With his understanding of probate law, he helps clients in need care for their families.
Speak to him today about your situation.