About our business lasting powers of attorney
Are you a Business Owner? | Do you have a business lasting power of Attorney (LPA)?
As a business owner have you ever wondered who would run your business if you were absent, through an accident or illness?
The solutions to this problem is a business lasting power of attorney (LPA).
Why have business lasting powers of attorney?
Business continuity is one of the key elements in business planning, and is valid whether you are a Sole Trader, Partner, or Company Director. When running a business your main objective is to ensure the efficient running of the business in the event of any disruption which could happen if you became incapable of running, or making decisions about your business.
Why would business owners or directors need business lasting powers of attorney?
You could need a business (LPA) due to physical or mental incapacity, or simply because of your personal circumstances or being out of the country on holiday.
If you have a business and you became ill, or you have a major accident, you might find that your absence makes it difficult for your business to operate efficiently. Who could you trust to look after finances, such as paying staff & invoices, and to make decisions on your behalf if you were in hospital? Worse still if you lost mental capacity you and your business would be at the mercy of the Court of Protection, who would appoint a Deputy to run your affairs, which would not only be costly but take months to set up.
Would you want your affairs runby a stranger, and would your business still be in a sound financial position?
Other issues to consider are what would your banks response be to your illness/accident?
They may call in loans, freeze bank accounts etc, but by having an LPA in place for your business interests should help to head off these problems before they even surface.
What a business lasting power of attorney (LPA) can offer your business
A business lasting power of attorney is an essential document for all business owners. You can have two LPA’s, one appointing attorneys to act on your behalf within your business, another, probably appointing different attorneys, to act on your behalf in regards to your domestic financial affairs.
Your other option is to just leave it to the Court of Protection to appoint somebody that they choose when the time comes, which is not only time consuming but expensive, and not the best route for your business.
Who do we work with for our Business Lasting Powers of Attorneys
We currently work with one of the leading Wills, Trusts, Funeral Plans and Lasting Powers of Attorney Companies in the UK. This company is a national company that works UK wide.
In addition to providing our business lasting powers of attorney, our partners also can offer Wills, Trusts, Funeral Plans & Lasting Powers of Attorneys for private individuals.
What areas of the UK do we provide business lasting powers of attorney to?
We can provide business lasting powers of attorney to Wales, South West England, South East England, West Midlands, East Midlands, North West England & North East England.
If you are interested in business lasting powers of attorney and you would like more information or a chat with a specialist consultant, please get in contact today:
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Or call MA Consultancy on: 07517 024979.
In addition to Business Lasting Powers of Attorney / Business LPA’s, our partners can also provide the following:
The business lasting powers of attorney page was written “By Mike Armstrong”.