Lasting Power of Attorney for a Business
Since you run your own business I think we're right in assuming that you have already covered yourselves with insurance for example property insurance, contents insurance or Industry specific insurance policies? Whilst you have made all the necessary provisions for your business, have you considered what would happen to your business if you were gone or unable to take care of it? This is where a Business Lasting Power of Attorney can provide you insurance, like no other.
Our customers tell us frequently that as soon as they know they have protected what they have worked hard for (their business), that they get an overwhelming sense of peace of mind, knowing that they have appointed somebody they trust.
The repercussions of you not having Business Lasting Power of Attorney in place should the worse occur is extensive, to say the least. It could affect your existing and new customers, employees and your family - that is, should your business suffer.
Who should you appoint?
You should ask yourself whether or not your company will survive without you at the helm, or is there a son, daughter or protégé with the capability of one day taking the reins. Without an LPA, your trusted partner or colleague would not have an automatic right to handle your affairs and there is no guarantee of what would happen to your business, so it needs to be formally put in writing.
This should not be a decision that is taken lightly, every aspect of your business should be taken into consideration for example:
• Planning and Strategy
• Finance and Accounting
• Marketing and Sales
• Customer Service
• Human Resources
A business owner must consider people who can take on, broad and diverse responsibilities that are essential for running and maintaining the business. You must also appoint people who are adaptable for if/when a change occurs.
Business Lasting Power of Attorney
Similar to a Lasting Power of Attorney, a Business Lasting Power of Attorney can appoint an attorney to act on your behalf within the business only. Your Attorney has the authority to make decisions on your behalf, should you become incapable of making such decisions yourself.
Our trained consultants can discuss your current circumstances. For peace of mind contact The Will Associates today on 0800 8477 212 to arrange an appointment with one of our trained consultants to discuss your needs and Get your free Business Lasting Power of Attorney Information pack today.