Corporate Power of Attorney
Who would look after your business if you were unable to? Continuity is one of the key elements for any business to survive and thrive. Business owners must carefully consider Lasting Powers of Attorney (LPA).
Do you need a Business Power of Attorney agreement?
Most business owners do not think about what would happen to their business if they became incapable of running it or who would make important day-to-day business decisions if they were unable to.
If you were to become incapacitated, the Court of Protection would consider you to be vulnerable and would have a duty to inform all financial institutions to freeze your personal and business bank accounts and other assets.
Without a Lasting Power of Attorney (LPA), an application would have to be made to the Court of Protection in order for someone to be appointed as your deputy. This process usually takes many months and with high fees and costs, the consequences for your business could be catastrophic.
If orders need to be fulfilled, bills and wages paid, having someone that has the authority to deal with these matters is essential.
We understand that for most clients who run their own businesses, it is inextricably linked to the interests and welfare of their family. It is advisable that the creation of a Business LPA should be done as part of a wider estate & legacy planning process.
We want our clients to have the certainty that their business and personal interests are protected and will provide a full Estate & Legacy Planning Review at our expense.
The Financial Conduct Authority does not regulate will writing or legal services advice.
Our Barrister Intermediaries have successfully completed examinations and are registered with and accredited to the Legal Services Guild.