If you’re a business owner in Louisiana, your estate plan isn’t complete without a strategy for what happens to your business when you retire, become incapacitated, or pass away.
Whether you run a family business, a professional practice, or a growing LLC, a business succession plan ensures your hard work doesn’t disappear—or create unnecessary stress for your family or employees.
Key Questions to Ask
- Who will run the business if you can’t?
- Will ownership transfer to your spouse, children, or a partner?
- Do your heirs want to be involved—or would they prefer to sell?
Use an Operating Agreement or Buy-Sell Plan
If your business has multiple owners, a buy-sell agreement sets clear rules for what happens to your ownership share. It prevents disputes, sets valuation methods, and ensures smooth transitions.
Use Trusts or Entities for Ownership Transfers
Incorporating the business into a revocable living trust or holding company can allow for smoother management during incapacity and faster transfer after death—without the need for succession court proceedings.
Minimize Taxes and Protect Value
With smart planning, you can minimize estate taxes, avoid disruption in cash flow, and protect your business’s reputation and client relationships.
Louisiana-Specific Considerations
Business interests are treated as movable property, but whether they’re community or separate can impact who inherits them. Proper classification and documentation are critical.
Start Early—Plan Clearly
We help Louisiana business owners create estate and succession plans that secure both their personal legacy and the future of their companies.
Let’s make sure your business is built to last. Contact us today.
