SUCCESSION PLANNING

Estate Planning: Wills & Trusts

Every small business owner owes it to their family and their colleagues to take the time and trouble to plan for both personal emergencies and for those crises that may affect the larger community. At minimum, it is recommended that a business owner have a will, a power of attorney, some form of business succession plan and a protocol for emergencies. Landback Law offers a basic package (will, power of attorney and advance healthcare directive) for a set fee. Please contact me if you would like more information.

FAQs

I am a sole proprietor and I only have one employee. Do I have to give the power of attorney to that employee?


You can grant a power of attorney to any individual that you feel would be trustworthy and able to run your business if something should incapacitate you. That person does not have to be an employee of yours.




I don’t want to give a broad power of attorney to anyone. Is there any way to limit the powers I would be giving?


A power of attorney can be drafted very narrowly – to only grant authority over certain aspects of your business (and not over any of your personal assets). A power of attorney can also be drafted to only come into effect upon the occurrence of a specific occurrence. This is called a springing power of attorney.




My power of attorney and will are now over ten years old. Do I need to do new ones?


It is advisable to review your power of attorney and will every five years or upon the occurrence of a significant event such as a birth of a child, death, divorce, or substantial growth or other change in your business.





​​​​© 2016-2019 Landback Law, LLC

Designed by North Star Design Studio

  • Avvo
  • Grey LinkedIn Icon
  • Grey Google+ Icon
  • Grey Facebook Icon
  • alignable
  • Grey Yelp Icon

LEGAL DISCLAIMER: The information you obtain at this site is not, or is it intended to be, legal advice, which can only be obtained as a result of personal consultation with an attorney. Any prior results described in this site do not guarantee a similar outcome. This information may not reflect the most current legal developments, and it may not be applicable to your specific circumstances. Do not act upon this information without seeking legal counsel.

 

We invite you to contact us and welcome your calls, letters and electronic mail. Contacting us does not create an attorney-client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established. Accordingly, do not send us any information about any matter that may involve you until you receive a written statement from us that we represent you (an "engagement letter").