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Are there alternatives for managing property when a person becomes incapacitated?

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Are there alternatives for managing property when a person becomes incapacitated?

Question: Are there alternatives for managing property when a person becomes incapacitated?

Answer: If a person becomes incapacitated and they own property then they need to have the property cared for during the period of that incapacity. One technique that we use is we put the property into a limited liability company so in the event that the owner, the individual, is unable to care for the property, then we can provide for a manager of the LLC, the limited liability company, to continue to operate the business within the limited liability company. In addition, the individual may own property that’s not in a limited liability company and we would use a durable power of attorney that would allow an attorney to step in in fact under that power of attorney to manage the property and handle the financial affairs of that property during the period of the disability.


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