Veazey Felder & Renegar LLCLafayette LA Family Law Lawyers | Lafayette Business Attorney | Louisiana Injury Claims2024-03-07T08:21:51Zhttps://www.vfrlawfirm.com/feed/atom/WordPress/wp-content/uploads/sites/1302139/2021/04/cropped-Veazey-Felder-Renegar-site-icon-32x32.jpgOn Behalf of Veazey Felder & Renegar LLChttps://www.vfrlawfirm.com/?p=482802024-01-22T19:28:11Z2024-01-22T19:28:11ZLouisiana’s spot in the top 5
According to the study, Louisiana sits at the number 4 spot for highest divorce rates in the country, with a rate of 15.5%. This is a significant increase over the past few years, even as the divorce rate around the country has decreased or remained steady for many years. Inversely, the rate of marriage in Louisiana has decreased as divorces increase.
Underlying conflicts developed after spending too much time together
Other factors that might affect the divorce rate
Cultural attitudes toward marriage and divorce can also play a role, with the rates differing between groups and from state to state. Louisiana is a state that does not recognize common-law relationships, and this might also impact why people get married and divorced. Additionally, the changing attitudes about the need to have a partner might contribute to the decision to leave a struggling marriage, as some younger adults have expressed that they do not believe that it is necessary to get married. Additionally, if more people prefer to live together without getting married, even if that relationship ends, the rate of divorce in their area will not be affected. The age and education level of residents and even the time of year when data is requested might play a role in the perception of the divorce rate for the state.]]>On Behalf of Veazey Felder & Renegar LLChttps://www.vfrlawfirm.com/?p=482782024-01-22T19:24:58Z2024-01-22T19:24:58ZReasons for a child-centered divorce
Divorce is usually hard for kids as well as adults, but having a child-centered divorce can make the process less difficult for everyone. Making an effort to stay out of court can keep both conflict and expenses down. However, you can only control your own actions and not those of the other parent. Whether or not they are creating more difficult conditions, there are additional things you can do on your own to help keep the divorce child-centered.
Steps to take
Sometimes, parents who are upset about a divorce can make mistakes such as sharing too much with their children or trying to get back at the other parent. In a child-centered divorce, you would turn to friends or a professional, such as a therapist, to talk about your feelings rather than burdening your children with them. While you can answer their questions about the divorce in a way that is appropriate to their age, you should avoid going into too much detail or blaming the other parent. This can be difficult, especially when the other parent is not observing the same rules, but over time, your children will gain a sense of stability from your calm and consistent approach.
Take your time
Another mistake that parents can make is rushing through the divorce to get it over with or prolonging it as they try to get concessions from the other person. You should ensure that you hammer out the necessary details for child custody, support, and other issues, but you should also try to get through the process efficiently.
Let your children talk to you about their feelings, and understand that sometimes, they may act out in ways that do not appear directly related to the divorce but are. Focusing on their best interests can help ensure everyone emerges healthy when it is over.]]>On Behalf of Veazey Felder & Renegar LLChttps://www.vfrlawfirm.com/?p=482612023-11-21T02:35:53Z2023-11-21T02:35:53ZWhat is an operating agreement?
Operating agreements detail financial and functional decisions that a business must make. These documents describe the business' governance according to specific company needs. An operating agreement serves as a contract once signed.
Why draft an operating agreement?
An operating agreement protects your organization's LLC status. If your business has no agreements of this type, you and other owners might assume personal identity when something goes wrong.
Having a written agreement clarifies verbal agreements. Putting this information into an operating agreement reduces the chances of misunderstandings, which can take a lot of your time and money.
In most states, you need an operating agreement for state recognition. Without one of these contracts, state regulations, rather than company rules, apply to your operations.
What should go in the operating agreement?
Most operating agreements are 5-20 pages long and written as business law contracts. Some of the details included might be:
Buyout/buy-sell rules
Meeting guideines
Profit and loss distribution
Duties and powers of members/managers
Voting rights
Member ownership percentages
How should you file an operating agreement?
Operating agreements should be with your business records, and each member or manager should have a copy for their records. States do not accept copies for safekeeping, and these documents are not filed.
An operating agreement is essential in ensuring that your company has the maximum protection. These documents outline rights and responsibilities and provide important recognition.]]>On Behalf of Veazey Felder & Renegar LLChttps://www.vfrlawfirm.com/?p=482592023-10-19T17:13:10Z2023-10-19T17:13:10ZKeep the practice out of the marital estate
There are a few things that you can do in an effort to keep the practice out of your marital estate. First, you can put it in a trust that would technically own it, which would shield the asset from state property division laws. Second, you could structure the practice as an LLC, which would make the entity separate from its owner. Therefore, it would be harder for your spouse to claim it in a settlement. Finally, you could include the practice in a prenuptial agreement. Although it would still technically be in the marital estate, it would be classified as separate property nonetheless.
Buy insurance
You can buy an insurance policy that would be used to buy your spouse out in the event of a divorce. The payment would allow you to keep the practice in your control, which would allow you to benefit from it indefinitely.
Take action in a timely manner
If it is deemed that a trust or prenuptial agreement were made in bad faith, they could potentially be invalidated. This may be true if the trust was made only days before filing divorce papers or if a prenuptial agreement was signed while under duress. Documents may also be invalidated if there are technical or other errors that render them noncompliant with state law.
Your medical practice is just one of many assets that might be lost in a divorce if you aren't proactive in protecting them. In addition to protecting assets, a quality divorce plan may also help you obtain child support, alimony or other resources from your spouse in a final settlement.]]>On Behalf of Veazey Felder & Renegar LLChttps://www.vfrlawfirm.com/?p=482572023-09-27T02:18:12Z2023-09-23T02:17:04ZPoor communication
It's vital to have good communication between a married couple. When this element breaks down, misunderstandings can occur, and one of you may be resentful, lonely or isolated and stop caring about your relationship.
Infidelity
If one of you decides to have an extramarital affair, the marriage may end immediately. Building back trust after this betrayal can be challenging if you stay together. Infidelity is one of the primary factors causing divorce.
Financial struggles
Another factor that can cause you to get a divorce is financial struggles. If one of you is horrible at budgeting and misspends money, it can cause friction and lead to the end of your marriage. It's best to recognize and address bad financial habits if you want your relationship to last.
Weight gain
If you or your spouse gains significant weight, intimacy can be affected. Other issues, such as low self-esteem, can contribute to a loss of attractiveness, causing a divorce.
Physical and emotional abuse
Criticizing, blaming or shaming a spouse can quickly lead to a permanent split between married couples. This interaction and emotional abuse can be highly stressful, leading to feelings of fear, low self-esteem and shame. If physical abuse in a marital relationship occurs, it can become unbearable for the victim, leading to divorce.
Constant arguing
If you and your spouse cannot understand the other's point of view, constant arguing can occur. If you have the same argument or similar arguments over and over, it can take a tremendous toll on your marriage. Without a resolution, the ultimate answer may be to end your relationship.
When either spouse struggles with any of these factors during a marriage, stopping the destructive behavior is crucial if you want to avoid divorce. Sadly, many marriages fail because a reconciliation never occurs.]]>On Behalf of Veazey Felder & Renegar LLChttps://www.vfrlawfirm.com/?p=482562023-07-23T23:42:38Z2023-07-23T23:42:38Zback-to-school season.
Back-to-school shopping
A new school year means a new school supply list for each child. It’s important to discuss this list with your ex-spouse to figure out who’s going to buy what.
There are also other expenses that may not be spelled out on a list. You and your ex should also talk about who’s going to pay for your child’s new clothes as well as any extracurricular fees as they come up.
These things can create tension if you don’t address them right away or if they weren't addressed in the child custody agreements. It’s important to ensure that you and your ex-spouse are contributing equally to the back-to-school shopping.
Address transportation logistics
It’s important to build a schedule to determine which parent picks up the children from school on any given day of the week. It’s important to build a schedule based on what works best for you and your spouse.
There are also things like extracurricular activities that need to be addressed. It’s important to decide early on which parent is going to be in charge of picking up the kids from their practices.
Communicate and work together
There may be a lot of tense feelings between you and your ex after the divorce, but that can’t come in the way of parenting. There will be times when your children will need you to go to events together or otherwise be able to make decisions together.
That’s why it’s important to build good communication skills as early as possible. Not only will you and your ex be more likely to help each other in co-parenting, but it will be a healthier family dynamic for your children as well.
It may be tough the first few years. But consistency and communication are the best ways to establish healthy habits for great co-parenting during back-to-school season.]]>On Behalf of Veazey Felder & Renegar LLChttps://www.vfrlawfirm.com/?p=482552023-07-23T23:37:37Z2023-07-23T23:37:37ZEnd the conflict for your children's sake
Divorce may be the only way to put a stop to the endless fights that you and your spouse engage in. You don't want to set an unpleasant example of married life or adult behavior.
If you can't get along with your spouse, it may be time to admit it. An amicable, or at least peaceful, separation can set the stage for the bickering to end. From this point, you may be amazed at how much better you and your children feel. You will now be free to enjoy peace of mind. This can be the catalyst for you to embrace your own growth.
As you do so, your children can also explore new opportunities. They can get expert life advice and support from both parents. This aid and counsel can come freely instead of being filtered through a hostile opposing source.
Sharing custody can be a better arrangement
The custody of your children should be your first concern. The one thing you may have in common with your former spouse is a desire to see your children succeed. Once a custody agreement is established, you can begin the process of co-parenting. This will enable you to perform your duties as a parent while avoiding conflict with your former spouse.
As you explore your new post-divorce life, you may enjoy all sorts of new activities. This may make you a happier and more well-rounded individual. The newfound flexibility may also make you a much better parent.]]>On Behalf of Veazey Felder & Renegar LLChttps://www.vfrlawfirm.com/?p=482532023-05-24T05:05:11Z2023-05-24T05:05:11ZEducation and experience
Education is necessary to equip individuals in the corporate world with insights and knowledge and the ability to make effective business decisions. It is the foundation needed to build an understanding of financial principles, business law and operations. Ideally, the person you are grooming should have a degree in business, finance or management. But that's just a start.
Experience is everything. Your ideal business successor should have a track record of success in their chosen field. They need to know how to operate and maintain your company's core services and develop new ones. Look for people who have had the opportunity to manage a team and can show evidence that they can lead it effectively.
Interpersonal skills
Moving up the corporate ladder involves more than just technical and theoretical knowledge; interpersonal skills go a long way in developing successful relationships within a team. Good communication, problem-solving, conflict resolution and decision-making capabilities are essential when looking for someone to fill an important role like this one. You want somebody who can build strong relationships with customers, suppliers and other stakeholders.
Passion and drive
When looking for the perfect successor, you must consider whether or not they are passionate about your business. They should feel motivated to take it to the next level and push its growth boundaries. Ultimately, enthusiasm, ambition and a strong interest in what you do will give them an added advantage when taking over from you.
Succession planning requires patience, dedication and a keen eye for identifying potential individuals who can continue the legacy of a business and help it progress to new heights. With the right education, experience, interpersonal skills and passion to drive growth, you can find the perfect successor in Louisiana to take your business into a prosperous future.]]>On Behalf of Veazey Felder & Renegar LLChttps://www.vfrlawfirm.com/?p=481952023-04-12T00:27:05Z2023-04-12T00:27:05ZTax planning for divorce
If you are considering divorce, it is essential to understand the changes that could influence your tax liabilities. Here are some general things to keep in mind:
Alimony: If you are awarded alimony, you will be able to deduct the alimony payments from your taxes. However, the person who receives the alimony will have to include the alimony payments in their income.
Child support: Typically, child support is not considered taxable income for the parent who receives the payments and is not a deductible expense for the parent who makes the payments.
Division of assets and debts: When you divorce, you will need to divide your assets and debts. How you divide your assets and debts can affect your taxes. For example, if you sell a home you own jointly with your spouse, you may have to pay capital gains tax on your share of the gain.
Retirement accounts: If you have retirement accounts, such as a 401(k) or IRA, you will need to decide what to do with them when you divorce. Depending on your situation, you may be able to keep the accounts in your name or roll them over into your spouse's name. How you handle your retirement accounts can affect your taxes, and you may need to file specific paperwork to disclose the reason for the change.
Health insurance: If you were covered by your spouse's health insurance before your divorce, you may be able to continue to be covered under your spouse's health insurance for a while after your divorce. However, you may need to pay for the coverage yourself.
Depending on your situation, the change to your tax situation may be significant, and it is important to be aware of the shift ahead of time.
Knowing how to prepare
Divorce can have a significant impact on your taxes. You should consider some of the following tips as you look toward your future:
Start planning early: The sooner you start planning for your divorce, the more time you will have to make informed decisions about your taxes.
Get professional help: A tax advisor can help you understand how your divorce will affect your taxes and can help you make the best decisions for your financial future.
Be prepared for changes: Your tax situation will likely change after your divorce. Be ready for these changes and ensure you are taking all the necessary steps to comply with the tax laws.
Divorce can come with many challenges, but it can also be the beginning of a new chapter. When you are prepared for the changes that come with divorce, you can have more control over the outcome.]]>On Behalf of Veazey Felder & Renegar LLChttps://www.vfrlawfirm.com/?p=481942023-03-22T21:53:19Z2023-03-22T21:53:19ZSole proprietorships are easy to start and dissolve
Almost anyone can start a sole proprietorship simply by having goods or services that they are willing to sell. Each year, you will report your profits or losses on Schedule C, which is due on the same day as your personal tax return. To dissolve your business, you simply stop offering goods and services to your customers. The company will also dissolve automatically when you die.
If you want to limit your liability
One of the key drawbacks to operating a sole proprietorship is that you are personally liable for anything that happens to an employee or customer. This means that your assets could be seized to pay a judgment against your firm. Creating an LLC or corporate entity means that judgments would be satisfied using company assets only.
Tax rules may favor LLCs or corporations
If you operate as an LLC or a corporation, you may be able to take a portion of your salary as an owner's share of profit or as a dividend. These payments may be exempt from traditional self-employment taxes or may be taxed at a lower marginal rate than payments classified as wages. A business law adviser can help you determine if the tax benefits are worth using either of these structures.
Choosing a structure is one of the most important decisions that you'll make as an owner. Ideally, you will make this decision while creating your business plan. However, you will likely have the opportunity to change your mind if you want or need to do so after your company is officially open.]]>