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When appointing decision-makers (e.g., attorneys in a Power of Attorney), the terms “jointly,” “severally,” and “jointly and severally” determine how authority is shared. Here’s a breakdown of each: Jointly Appointed All appointed individuals must act together for every decision. Unanimous agreement is required for any action. Key Implications: Collaboration required: Decisions like paying bills or […]

The death of one of the partners in a partnership will bring the partnership to an end unless there is an agreement in place that provides otherwise. The deceased’s executor has the right to demand that the assets of the partnership be sold or that the value of the deceased’s interest in partnership assets be