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Business owners and partners - What would happen if you became incapable of making important day to day decisions?
Lasting Powers of Attorney (LPAs) are not reserved for the elderly.
We advise all business owners and entrepreneurs to create an LPA as part of your risk management strategy to cover what happens to your company voting rights, shares and drawings. It should be as integral to your business plan as insurance.
If you become unable to manage your own decisions, your close family do not have an automatic authority with company employees, your contacts or your company bank or Companies House.
By creating an LPA, you can ensure that if you become incapacitated, your loved ones will not face unnecessary administrative and legal hurdles at a time when your welfare should be their primary concern .
LPAs can cover both your business and personal finances.
For more detailed advice or information, contact our specialist solicitor Emma Harrison on 01817 317081 or email eharrison@pickerings-solicitors.com
We will be happy to advise on ways of planning for your future and answer any questions you may have.
