Accountants, including certified public accountants (CPAs), are intimately involved in the financial lives and well-being of their clients. Despite conscientious adherence to best practices, blame can fall on the accountant when a client suffers a financial misfortune. The ability to protect personal assets when allegations of professional wrongdoing are made is one of the benefits of DAP trusts for CPAs and all accountants.

According to a recent study from Miami University, adult guardianship in Ohio is on the rise, and many family members and friends are tasked with the important job of becoming a guardian for a loved one who needs assistance with self-care or managing financial matters. The study found that 70 percent of the guardians are family members or friends of the person under guardianship (the “ward”).

Making life decisions for someone else is a big job, and it is important to know the basics when faced with this responsibility.

The law in the United States is often crafted around protecting the interests of those who cannot protect themselves. The West Virginia Guardianship and Conservatorship Act addresses just such a person—a "protected person" who cannot legally take care of him- or herself and who may need the assistance of an appointed guardian for personal care and concerns or the assistance of a conservator for financial decisions. 

Investigating the options, however, can be daunting. Those seeking to help a loved one incapable of tending to his or her own self-care or matters often have questions about what kind of guardian is needed, what forms to fill out, what court makes guardianship decisions, and what kind of qualifications a guardian needs to have. A West Virginia guardianship lawyer knows the ins and outs, of course, but if you find yourself needing to investigate the options for caring for an adult in need of assistance, it is helpful for you to have a general understanding of adult guardianship and conservatorship, too. Continue reading below to find out more.

Guardianship is a means by which you can become legally responsible for managing the care of a disabled or incompetent adult. Guardianship grants only specific rights and responsibilities related to the care and concerns of that individual. Understanding what guardianship entails and familiarizing yourself with the process to obtain it are essential to successful transitions in these situations.

When you own a business, estate planning and business succession planning are emphatically entwined. Estate planning for business owners requires careful consideration of the impacts of your business succession plan on your life, retirement goals, and family. These objectives must be balanced and coordinated with your wishes for the future of the company, business partners, and employees.