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    Corporate clause upon death or incapacitation
    I work with a 1 man corporation (S Corp) who employs me as a independent contractor. We work on real estate development projects together. We would like to do corporate resolution that, upon the death or incapacitation of the S Corp owner, gives me the authority to transact whatever might be necessary to complete the projects that we are working on together. The S Corp owner doesn't want to give me full authority BEFORE death or incapacitation, only after.

    Does anyone know what type of clause we need or could maybe point me to an example?

    Thank you.

    Fred


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    froberts,

    It sounds like here you only need be named beneficiary, much like in any other, I think an S-corp, because it is a pass-through entity, doesn't require much language beyond this but I would keep my ears open to other replies, because I am truthfully uncertain and hope to monitor this to learn myself.


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    In case of the passing, lasting handicap or mental insufficiency of you or any the legitimate agent of the perished, crippled or weakened gathering,


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    The company must have the ability to terminate the lease if it loses its critical person. Without protective language in the lease, the company will remain bound to the lease despite the absence of the critical person. The lease is often between the company and the landlord, so the company still legally survives and remains obligated to perform under the lease.


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