BUSINESS
LASTING POWERS OF ATTORNEY
PROTECT THE BUSINESS YOU'VE WORKED HARD TO BUILD
A Lasting Power of Attorney, contrary to popular belief, is not only utilised personally, but it may also be in the best interest of business owners to protect themselves in the same way.
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Should a business owner become incapacitated by injury or illness, would someone be able to take over the running of the business and its finances? If not, fundamental business operations may not be possible. This can have adverse consequences for a business owner’s family finances if they are reliant on income from the business.
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Without a Business LPA in place and the worst should happen, business bank accounts can be frozen along with assets, leading to the failure of the business.
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It is important to note that the Power of Attorney does not come into effect until required and does not affect the business owner's rights to continue managing.
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10 REASONS
TO HAVE A BUSINESS LPA
1.
You've worked hard for your business. Why risk losing all of this to mental or physical incapability?
5.
With an LPA, you have complete control over who you appoint to take care of your business
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Leave gifts and charitable donations as you wish
2.
Peace of mind that your business can continue to tick over should the worst happen
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6.
Be safe in the knowledge that your appointed attorneys will act in good faith on your behalf
9.
Make life much easier for key shareholders, mutual directors and your loved ones, with a Business LPA in place
3.
Assets and bank accounts can be frozen without one, leading to the failure of the business
7.
It is very difficult to remove a director who has already lost capacity. If you act now, this can be avoided
10.
Total control and peace-of-mind.
An LPA can be revoked if no longer required
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4.
Does your family rely on the income from your business? Without an LPA, this could have a big impact on family
8.
Appoint an attorney for your business. Without one, business assets and bank accounts can be frozen
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Leave gifts and charitable donations as you wish
HOW CAN UK FCS HELP?
UK FCS provides a cost-effective, thorough and confidential Wills & Estate planning service.
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Our trained consultants can see you at a time to suit you, either at our offices, or in the comfort of your own home.
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A Lasting Power of Attorney is an important document that must be registered with the Office of Public Guardian and therefore, we recommend utilising our face-to-face, personalised service.
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During this initial consultation we will talk through your wishes and explain carefully to you the details of LPOAs.