Business Lasting Powers of Attorney
Why do I need a Business Lasting Power of Attorney?
If you run your own business, it is vital you have contingencies in place should the worst happen. A Business Lasting Power of Attorney ensures you have the best protection available for the continuity of your business if your capacity to run it is diminished, whether through illness or accident, for short or long term.
What does a Business Lasting Power of Attorney do?
You can appoint an Attorney or Attorneys to take over the running of your business and make decisions whilst you are incapacitated, ensuring that your business can carry on as routinely as possible during your absence.
What happens when a Business Lasting Power is in place?
With a Business LPA in place, your attorney can safeguard your business by making sure bills are paid, creditors’ debt is recoverable, and the day-to-day running of the business is not affected by your temporary or permanent circumstances.
How can Vincents help?
We can advise you of the best way to construct the Lasting Power of Attorney application to the Office of the public guardian. Additionally, we can help you identify who would be the best attorney for your business and its ongoing success.
Your business attorney may be a family member, a professional executive, or even a company. Your business attorney will take your place in running your business for as long as you are unable to.
With our wealth of experience in this area, we can talk you through the practicalities of your decision so that who you appoint is right for you, your company, and its future.
You can also find out more about Health & Welfare and Property and Finances LPAs here
What can happen if I don’t have a Business LPA?
Having a Lasting Power of Attorney in place is a vital requirement for any business owner, as it means your attorneys have clear instructions on how you manage your day-to-day as well as any long-term decisions that need to be made.
If you do not make a Lasting Power of Attorney and become unable to manage your affairs, then in the short to medium term there will be nobody with the authorisation to pay your bills or to manage your business finances. Inevitably, your company may suffer, which can have a devastating effect on your individual and family wealth, as well as the wealth of any business partners or fellow board members. We can help you avoid these detrimental pitfalls by making sure you and your business are sufficiently prepared for whatever the future may hold.
Please send your enquiry online by filling in the form at the top of this page or call us on 01772 555176 and ask to speak to a member of our Lasting Powers of Attorney team.
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Our Private Client Testimonials
Clear Advice Feels Better
After reviewing one of our Court of Protection clients welfare benefit payments we have secured a back dated payment of £22,000 from Aug 2021, monthly income from £0 – £1,502. Together with a previously secured ESA payment of £16,901.30 our client has received a total of £39.216.30 which he did not realise he was entitled to without the support of his Deputy Oliver Banks and his amazing team.
Commended for their expertise
I initially spoke to Mary in Garstang Office to enquire about setting up a Power of Attorney, Mary was polite and explained in detail what was required.
I next spoke to Lisa who gathered all of the personal information required to draw up the POA and this was followed up by a home visit from Mary for my part to be signed. This was very much appreciated as a disabled, elderly person.
These two young ladies are to be commended for their expertise and the respect shown to me.
Perfect Experience
Our experience was just perfect. A good listener, knows her products well, willing to advise, confident yet modest. An asset to the team.
Clear Advice Feels Better
After reviewing one of our Court of Protection clients welfare benefit payments we have secured a back dated payment of £22,000 from Aug 2021, monthly income from £0 – £1,502. Together with a previously secured ESA payment of £16,901.30 our client has received a total of £39.216.30 which he did not realise he was entitled to without the support of his Deputy Oliver Banks and his amazing team.
Commended for their expertise
I initially spoke to Mary in Garstang Office to enquire about setting up a Power of Attorney, Mary was polite and explained in detail what was required.
I next spoke to Lisa who gathered all of the personal information required to draw up the POA and this was followed up by a home visit from Mary for my part to be signed. This was very much appreciated as a disabled, elderly person.
These two young ladies are to be commended for their expertise and the respect shown to me.
Perfect Experience
Our experience was just perfect. A good listener, knows her products well, willing to advise, confident yet modest. An asset to the team.
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