Panama City Guardianship Attorney
Lawyer for Guardianship in Panama City, Florida
A guardianship is necessary when a person is unable to handle his or her own affairs. A guardian is then appointed be the court to help manage the necessary tasks for the person in question, who is referred to as the "Ward". The guardian then manages the affairs of the Ward and makes decisions about his or her daily life. The guardian is required to act in an ethical manner and in the best interests of the Ward. Florida Statutes Title XLIII Chapter 744 delineates how guardianships are to be administered.
If you or someone you know needs legal assistance with a guardianship for a minor, an elder, or someone who is incapacitated in the Panama City area, I can provide the legal counsel you need. As a Panama City guardianship lawyer, I serve the entire Bay County, Florida area (including the surrounding counties). My background in trusts, wills, and estate planning is particularly relevant to the area of guardianship law. I can offer a level of thoroughness, attention to detail, and personalized service that my clients need and expect with these delicate family matters.
Generally, there are two types of guardianships. (plenary & limited) In a limited guardianship, the guardian is granted specific rights over the Ward as determined by the court. The Ward keeps all other decision-making rights. In a plenary guardianship, rights can be delegated to the guardian that can be applied to the "person" of the Ward (medical decisions, living arrangements, social decisions, etc.) or his/her "estate" (the assets), or both.
A guardian may be responsible for the Ward's residence, medical treatment, non-medical services such as education or counseling, and making end-of-life decisions. If the guardian is responsible for the Ward's estate, he may be required to see that the estate is protected from loss, receive income for the estate, and make appropriate disbursements.
Do you need help setting up or administering a guardianship? Contact Panama City guardianship lawyer Max W. McCord III to discuss your guardianship options today!
What are some of the benefits of conducting business through a legal entity?
One of the most important benefits is the protection of your personal assets against the claims of creditors. Generally speaking, directors, officers, managers, members, and stockholders (the interested parties) are not held personally liable for the debts and obligations of the business entity. The interested parties should be limited in their personal liability to the amount invested in the company. Another legal benefit is the transferability of ownership, which can be done either in whole or in part. Also, some estate tax planning options are only available to business entities. Retirement funds, such as 401ks may be established more easily. Also, a business entity can acquire and establish its own credit rating.
What are some of the mistakes people make when going into business?There are always risks involved in going into business. As most people know, a majority of small businesses do not succeed in the long run. Mistakes of new business owners may include the lack of a realistic business plan, underestimating costs and tax liabilities, and unfavorable business contracts/agreements. Even more problematic is a failure to understand the business or the marketplace, underestimating the competition, and/or not being effective at managing a business. Responsibility for these latter areas ultimately falls to the owners, but sound legal advice can substantially improve the chances of success.
How can I be protected from liability claims that arise from my business?
Generally speaking, business owners doing business as limited liability companies, corporations, or limited partnerships do not have personal liability for the obligations or debts of the business. This assumes that no personal guarantees have been executed. If the business has been properly created, it is a separate legal entity. The details of formation are important, and the filing fees must be paid. If properly created and maintained, the assets owned by the business should be the only ones that are subject to debt or other liability considerations.