Planning For The Future Of Your Family And Your Business
At McMichael, Medlin, D'Anna, Wedgeworth & Lafargue, LLC, we provide family and business clients throughout North Louisiana with estate and business planning services to ensure the financial security of families and the future of family businesses.
Estate planning can meet a variety of goals, both now and in the future. Attorney Deryl Medlin is prepared with the latest information to help you choose the most appropriate tool to meet your goals:
- Sheltering family assets from taxation
- Minimizing the impact of estate taxes
- Funding college education or the special needs of an elder or incapacitated relative
- Passing along family heirlooms to the people who will most appreciate them
- Transferring control of a family-owned business
- Asset protection and preservation
Wills, Trusts And Powers Of Attorney
From drafting a simple will or power of attorney to complex estate planning combining trusts, life insurance and deeds, we can explain your options and the tax implications of those choices, and then draft the documents needed to implement your special estate plan.
Trusts are the ideal tool to minimize taxes now, to transfer larger sums of money and property to beneficiaries in the future, and to fund specific purposes. The most common trusts we see clients choosing are living trusts (which can be revocable or irrevocable, with differing tax implications) and testamentary trusts. Irrevocable life insurance trusts (ILITs) are also becoming increasingly popular and ensure that life insurance payments will not be taxed with your estate at the time of succession.
For families wishing to further a cause or leave a legacy, options can include charitable trusts, charitable remainder trusts and conservation easements
Business Succession Planning
For families with business interests, we provide legal guidance to ensure the proper transfer of assets and a smooth transition of management from generation to generation. In those instances when children or family members are not interested or suited to take over a family business, allow our business planning lawyer to walk you through the options for transferring management and assets separately or over time.
We assist clients with succession and probate proceedings. These services include the probate of wills, the funding of trusts and the transfer of assets to their intended beneficiary.
If a dispute arises during the execution of a will or management of a trust, clients can call upon the help of our civil litigation attorneys for courtroom representation in will or trust contest cases.