At the Law Offices of Joel A. Harris P.C., our California estate planning attorney helps business owners set up the right power of attorney (POA) for their company. If you have any specific questions or concerns about estate planning for businesses, we are here to help. Contact us today for a confidential consultation with a top California POA lawyer for businesses.
In California, a power of attorney is a legal document that you can use to grant another person (or entity) the authority to act on your behalf in legal/financial matters. The individual who grants this authority is known as the principal. The party receiving authority is known as the agent. What is the purpose of a POA? It is generally set up to allow a trusted person to take action when you are not capable of doing so. For example, if you become incapacitated due to an accident or illness, your agent (POA holder) can handle legal and financial affairs. A POA does not have any effect after a person passes away. It is only during the principal’s lifetime and under pre-specified conditions.
A business owner POA is a specific type of estate planning legal document that authorizes an appointed agent to manage business-related decisions on behalf of the business owner. It is an essential document for small and mid-sized business owners who are heavily involved in the day-to-day operations of their company.
A POA is crucial for ensuring the continuity and stability of a company during times when the business owner is unable to manage affairs due to medical incapacity or temporary absence. By designating a trusted agent with the authority to make decisions, you can safeguard your business. The agent can use the POA to handle financial transactions, manage employees, and make decisions.
Every adult should have a comprehensive estate plan in place. A power of attorney is a key estate planning document—and it is especially crucial for business owners. Joel Harris is a California estate planning lawyer with more than three decades of experience working with business owners. When you contact our Antioch office, you will connect with a California POA lawyer who can:
At the Law Offices of Joel A. Harris P.C., our California estate planning attorney has professional expertise you can trust. Contact us today for your confidential initial consultation. With an office in Antioch, we serve communities throughout the region, including in Berkeley, Brentwood, Danville, Discovery Bay, Lafayette, Lamorinda, Moraga, Oakley, Orinda, Richmond, and Walnut Creek.
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