Progeny Law Firm

Estate planning for a family business is already a delicate balancing act. But in Louisiana, where unique legal doctrines like forced heirship apply, that balance becomes even more critical. Unlike most other states, Louisiana law limits how freely you can distribute your estate—and that includes ownership shares in your family business. For business owners, forced […] The post Forced Heirship and Family Businesses in Louisiana: Protecting Continuity Amid Legal Obligations appeared first on Progeny Law Firm. http://dlvr.it/TL49Yl

When one child occupies a position of trust with a parent to the exclusion of other siblings, that causes friction. Extending that position of power after death exacerbates that friction and may cause irreparable harm. It seems that happened upon the death of beloved singer, Tony Bennett. His daughters have sued their brother on two different occasions leveling some unflattering allegations. The post The Big Lesson from Tony Bennett’s Embattled Estate and Troubled Trust appeared first on Progeny Law Firm. http://dlvr.it/TKxj9p

Eugene Allen Hackman enjoyed a prolific acting career that spanned several decades. In a bizarre sequence of events, seemingly ripped from a movie script, his death raised questions and exposed some flaws in both his end-of-life planning and his Estate Plan. Gene’s final act didn’t result in a happy ending, but rather a tragic tale full of warnings to those who care to listen. The post A Hole in Hackman’s Plan appeared first on Progeny Law Firm. http://dlvr.it/TKpT5m

Art often imitates life and the latest chapter unfolding for Rupert Murdoch demonstrates that. Most of the time, when an individual creates an irrevocable trust, they part with dominion and control over the assets, and it is difficult to change the terms. Not long ago, the probate commissioner issued his order in response to Rupert Murdoch’s petition to amend the 1999 trust that controls his empire. It didn’t go the way Rupert hoped. Read on to learn more. The post A Message from the Murdochs – Part II appeared first on Progeny Law Firm. http://dlvr.it/TKfWn4

Estate planning is already a complex process, but for families with dual citizenship, the challenges become even more intricate. Having assets in multiple countries, being subject to different legal systems, and facing potential double taxation can complicate how wealth is managed and passed on to the next generation. Families must navigate these cross-border legal issues […] The post Estate Planning for Families with Dual Citizenship: Navigating Cross-Border Legal Challenges appeared first on Progeny Law Firm. http://dlvr.it/TKb9Dj