Business Legal Advice
If you own a business, are self-employed or are a partner in a partnership do you have a Lasting Power of Attorney in place?
You might associate an LPA on a personal level with being poorly or suffering from a degenerative condition or disease and needing someone to look after your care and affairs, but if you own, run or part own a business, you will need one or else your business could suffer.
If you fall ill or have an accident that that leaves you in a coma or long-term sick, without an LPA, your business could come to a stop. No signatory, no signing contracts, no access to bank accounts, everything coming to a grinding halt.
By putting in place a business LPA, you can give control to a business partner, trusted friend or family member who can step in and keep the business running until you can take over again.
You can give clear instructions on what you want the LPA to be able to do, e.g sign leases, access bank accounts and employ staff but not choose new suppliers, cancel contracts etc even have more than one LPA or person to carry out your role in your absence in order to spread the workload and commitment!
And once you are back to full speed, your business will be there ready for you.
We’d also suggest, once you have your business LPA in place, to check it every few years to ensure it still fulfils the need you have for it.
Other services coming soon…