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It’s important to consider what would happen to your business if you were unable to make decisions
As a business owner, it’s important to consider what would happen to your business if you were unable to make decisions for a variety of reasons, which might include:
In fact, if you are away from the workplace for a reason which causes operational problems, your absence might put adverse pressure on the future of the firm.
An existing Lasting Power of Attorney (LPA) for financial decisions can be used in relation to business decisions but it is important to consider:
You could consider making an LPA appointing certain attorneys to manage your personal assets, and different attorneys to manage your business assets. Fortunately, it is possible to make more than one LPA. You could consider making one for your personal affairs and a separate one for your business affairs. Often, people like to keep their business affairs separate from their personal affairs, so this option tends to appeal.
Whatever your motivation or personal circumstances, if you want to protect your interests and those of your business, you should consider making a business LPA. Our expert team of Wealth Protection lawyers can help you. Please get in touch with our team by telephoning 03333 058375 or email WealthProtection@psg-law.co.uk
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“Gail has been very professional, polite and quick to respond throughout the transaction. Would happily recommend.” Mick Jennings
“Top class solicitors, provided a hassle free, professional service… if you’re looking for a firm that really seems to care, charges reasonable fees and doesn’t swallow you up in legal jargon - I’d highly recommend giving them a call.” Anne-Marie Armstrong
“The whole team has been accessible and very well informed.” Legal 500
“I have received a very caring and professional service from both Laura and Gail. All my concerns were answered in a considerate and prompt fashion. Thank you very much.” Justine Abrahams
“Gail is my solicitor and has helped me in every stage of my husband’s estate. Because I can no longer write she has simplified things for me and is very approachable whenever I ring, and doesn’t make me feel stupid when I ask stupid questions!” Margaret Borthwick
"Very personable and friendly, technically very strong and very ethical and client focused." Legal 500
"Gareth Williams, can give advice to HNW individuals with complex planning needs and also acts as a professional deputy for individuals who have been awarded significant personal injury and medical negligence claims, technically very strong and has a great understanding of the needs of the client and how to provide the appropriate solutions and service." Legal 500
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Family Investment Company
An FIC provides a tax-efficient way for families to manage their wealth over a long period of time.
Business Succession Planning Wills and Trusts
Our Wealth Protection team is highly experienced in the area of succession planning for businesses
Cross Option Agreements
It is important for businesses to plan for the future and shareholders should think about what will happen to their...
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