Lins Law Group, P.A.
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December 2016 Archives

Considerations When Buying a Business

When purchasing a business, there are many issues which need to be taken into account. This is true whether the buyer is purchasing the entity, such as a corporation or LLC, or just the assets. This blog entry is focused on what questions to ask when purchasing a business. Future blog entries will address the specific decisions to make regarding these questions. Hopefully, by reviewing these blog entries, you will learn enough to see the importance of getting good legal counsel when purchasing a business. 

Statutory Duties Under a Power of Attorney in Florida.

In recent years, Florida has "beefed up" Chapter 709, which sets forth the statutes governing Powers of Attorney. Among the directives contained in that chapter are certain duties which govern an agent authorized to act under a Power of Attorney. These duties apply notwithstanding provisions in the Power of Attorney to the contrary. 

Purchasing an Existing Business--Should You Buy the Assets or the Business Entity?

When considering purchasing an existing business, a common question arises regarding whether to purchase the assets of the business or to purchase the business entity itself. For example, if purchasing a small sandwich shop which is owned and operated by Acme Corporation, should the buyer purchase the assets of the sandwich shop or should the purchaser buy the stock of Acme Corporation? As with many questions under the law, the answer is that "it depends" and the purchaser would be well-advised to seek legal and financial advice.

Can My Agent Use My Durable Power of Attorney to Make Gifts or to Change Beneficiaries?

Estate planning clients sometimes ask whether the person (or "agent) named in their Durable Power of Attorney ("DPOA") has the power or authority to do certain acts regarding the principal's estate or assets. For example, can the agent named use the power of the DPOA to make a gift to another person? Or can the agent use the DPOA to make a change of beneficiary designation-for example on a pay-on-death account or on life insurance?

Attorney Michael Lins
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