Have You Drafted a Power of Attorney?

Written by June Campbell

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2. By drafting a Power or Attorney, you are givingrepparttar "donees"repparttar 119315 legal right to carry out transactions on your behalf. In most areas, you can stipulaterepparttar 119316 powers that you are allocating. Typically, Powers of Attorney includerepparttar 119317 right to sell or purchase real estate and other assets,repparttar 119318 right to make payments of bills and debts, andrepparttar 119319 right to manage investments of various sorts.

3. Typically you can identify two people to have power of attorney, as well as appointing a substitute in case something happens to one ofrepparttar 119320 first two. Some advisors recommend appointing three donees to work jointly inrepparttar 119321 management of your affairs. Ideally, one donee should be a family member or friend who has your best interests at heart. The other should be someone who is connected torepparttar 119322 business and who is familiar with day to day operations. The third recommended donee isrepparttar 119323 accountant who handlesrepparttar 119324 company's books.

4. When draftingrepparttar 119325 document, be very clear what powers you are givingrepparttar 119326 donees. Avoid "gray areas" or areas that could be open to interpretation.

5. Make sure that at least one of your donees knows whererepparttar 119327 Power of Attorney document is kept.

6. In most areas, Powers of Attorney can be Continuing or Limited. Continuing Powers of Attorney usually take effect fromrepparttar 119328 date of signing and remain in effect after a person becomes incapacitated. Limited Powers of Attorney giverepparttar 119329 donee authority to act only under certain circumstances. Limited powers could include real estate transactions, complex investments like term deposits, RRSP contributions, and so on.

June Campbell How to Write Business Plans, Business Proposals, JV Contracts,Human Resource Package, More! No-cost ebook "Beginners Guide to Ecommerce". Business Writing by Nightcats Multimedia Productions http://www.nightcats.com

Insure Your Whole Business

Written by James Brown

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Although this kind of protection is just catching on in America, it's a proven commodity in Europe, where some 40 percent ofrepparttar population has some type of protection. When there's easy access to good legal advice, people more often settle their problems without a court fight. Your business can have that same security, because you'll know your rights will be protected, whether it's an unfulfilled contract, a defective product, damaged shipment or whatever!

Simply put, a pre-paid legal plan does for attorney bills what an HMO does for doctor bills. The monthly fee -- premium, if you wish -- varies by type of coverage and locality, but is typically less than $1 per day. A small sacrifice forrepparttar 119314 knowledge that you'll receive quality, comprehensive legal services to protect your rights and provide you with peace of mind.

James Brown is an Independent Associate with Pre-Paid Legal Services®. For nearly 30 years, PPL has provided legal plans to businesses,families and individuals across the US and Canada. To check for availability and rates in your area, visit http://prepaidlegal.com/go/jamestbrown or contact James at mailto:jamestbrown@prepaidlegal.com

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