Power of Attorney
There are few individuals in the contemporary economy with wealth that rivals entertainers and athletes. Even the minimum salaries required for an average professional athlete can create a need for a comprehensive estate plan. Most entertainers and athletes know very little about how to structure their assets in a manner that ensures unscrupulous actors cannot latch onto personal funds. The list of both who have lost fortunes due to bad advice and suggestion is extensive. Basic level risk management can work for some, but the truth is that solid protection is achieved with an overall plan that is structured against all outside entities with legal claims or business venture ideas. When the court deems a person cannot manage their essential health and safety requirements, then they are considered an incapacitated person or IP. In most cases, this individual cannot make responsible decisions about their life. Additionally, they are unable to communicate appropriately about their needs or wishes. A guardian is an advocate on their behalf. They keep the best interest of the person first. You work hard in life, and you accumulate specific assets as a result. Perhaps you have a home, a business, jewels, or other liquid assets youu2019ve acquired over the years. These assets are important to you and your family, and theyu2019re invaluable in your mind. Thatu2019s why an NYC asset protection lawyer might be your best option if you want to protect what you own from creditors whether they are personal or business assets. If you owe money to anyone and worry you might not be able to repay your debts, itu2019s time to protect your assets.
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