Company and Business Succession Planning
While most ensure they have properly prepared Wills, Powers of Attorney and Enduring Guardianships in place, little thought is given to consequences where the owner/manager of a business is unable to run the business as a consequence of incapacity or death. There are some basic issues which should be addressed: Alternate directors should be appointed who may stand in for directors who cannot attend meetings. The alternate director could be a spouse, the executor you have appointed in your Will or maybe some close business associate. A company should appoint an Attorney under Power of...
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