Power of Attorney for your Elderly Parent

Taking care of an elderly parent can be a complex task, especially when it comes to finances. Most families disregard the subject of finances and avoid talking about it until the time comes when they absolutely have to. However, there may come a time when your parent will not be able to make his/her own decisions.. If you’re a child of an aging parent, you should speak with your parent about taking proactive steps before the need arises. What is a Power of Attorney? A power of attorney is a document that a person signs in order to give another …

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What is a Power of Attorney?

A power of attorney is a document that a person signs in order to give another person control of managing their financial, medical, legal and/or business affairs if there comes a time they are unable to. A power of attorney can be temporary, such as handling the affairs of someone while they are out of the country or undergoing medical treatment, or it can be permanent.

Business Bankruptcy: Frequently Asked Questions

What is the difference between chapter 7 and chapter 11 bankruptcy? Businesses usually have a couple of choices when it comes to filing bankruptcy. Chapter 7 bankruptcy is reserved for companies that are struggling so badly they want to throw in the towel. These companies are liquidated, and all assets (and proceeds from assets) are distributed between shareholders and creditors. Chapter 11, on the other hand, is filed when the company wishes to reorganize its debts and get a fresh start. Under this type of bankruptcy, the company is allowed to remain in business during the bankruptcy process. Read more here…