The business owner
Do you have a plan to operate your business in your absence?
In light of the existing economic climate, people are not looking for existing jobs, they are creating them and forming businesses. As such, small business owners are on the rise. If you should temporarily become disabled or lose mental capacity, it is critical to have a durable power of attorney in place which will name someone to step into your shoes and manage your business operations in your absence. In the case of a closely held family business, determining the succession of that business to the right children is critical to preserve family harmony in the event of your death.