Like a corporation, an LLC provides limited liability to its owners. It means the owners of an LLC aren’t responsible for the liabilities and debts that the LLC incurs – even if the LLC becomes insolvent and owes more than it’s worth.
Diagnosed With Dementia? You Need To Take These Steps
7.7 million new cases of dementia are diagnosed each year. Chances are you probably know someone suffering from this disease. If that someone is you, your spouse, or your elderly parent, there are some legal steps that need to be taken ASAP.
Before delving into the nitty-gritty of legal planning, it is important to know that being diagnosed with dementia doesn’t immediately render you incapable of making financial decisions. As long as there are episodes of lucidity and the disease hasn’t progressed too far, you can still sign documents and plan for the future. However, the progression of this disease is the primary reason why we urge you to hire Charlotte Power of attorneys to handle all your matters efficiently while putting you at ease. Following are a few important steps to consider:
- Durable Power Of Attorney
A durable power of attorney will act and make financial decisions in your place once dementia progresses too far and you have been declared incapable of handling these matters yourself. For a durable power of attorney to be accepted at all financial institutions, it is important to execute it properly. At this point, contacting an H&S Charlotte law attorney will be in your best interests.
- Health Care Power Of Attorney
Unlike a durable power of attorney that is authorized to make decisions in specific areas or your behalf, a health care power of attorney makes sure medical treatment instructions are carried out for you. This too comes into effect only when you have been declared incapable of doing so yourself.
- Update A Will
Though there are treatments to slow down the onset of dementia, there is no cure. You need to prepare a will in the event of your death. Not only do you get to have a say in what happens to your assets after your death, updating will also reduce the chances of disputes after you pass away.
Not all wills hold up in a court; they can be challenged too. To make sure your last wishes are carried out well, get in touch with a will preparation attorney who will make sure the legal document is up to the standards of Charlotte NC.
Though dementia is a slowly progressing disease, a lot needs to be done if you suffer from dementia. Therefore, it is important to prioritize all legal preparations and collection of documents. Get help from Walker Schantz Law Charlotte law attorneys and become stress-free. Get in touch with our professional attorneys at (301) 693 – 5149 to schedule a consultation with our Charlotte powers of attorney representatives.
A legal practice field that specializes in issues that senior citizens face, such elder abuse, age-related health concerns, wills and trusts, Social Security and retirement, and long-term care and housing. Elder law planning prepares for financial freedom and autonomy through long-term care options and proper financial planning.
Many people don’t want to think about death, but we will all die one day. Sometimes courts step in to oversee the dis-positioning of your assets upon your death. That is where Charlotte probates of estates comes in.
Most people know they should write a will, but not everyone knows what a will is or how it works. If you wish to leave your loved ones some assets in the event of your death, then you need to write a will today.