Generally speaking, if a principal is still living and capable of managing their own affairs their relatives cannot change the POA. However, if the person becomes incapacitated a General POA is extinguished and the relatives can petition for a guardianship of the person. If there is a Durable POA in effect it remains in effect even after the…

Most people understand that in the world of asset protection planning and estate protection planning, the contracts which encompass the plans in question are always in writing.  Everything you do to protect your business and personal estates involves the preparation of a contract, as does most of what you do with contractors, suppliers and even…

The limited liability company combines the limited liability advantage of a Corporation with the protection of your ownership interest.  Yet, there are essential reasons we should prefer a Limited Liability CO. (LLC) to either the Limited Partnership or even the Corporation: – As with an S corporation, you can avoid double taxation with a Limited…

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