Where to get a Business Lasting Power of Attorney (LPA) in Suffolk and Cambridge
Do you run a business?
Are you aware of your obligations under S172 of the Companies Act to act at all times in the best interests of the company?
Are you aware that recent judgements have made a failure to make provision for loss of mental or physical capacity, in light of recent legislation, that could amount to a breach of duty owed to investors/shareholders and leave directors open to being sued for damages?
Do you know that under current legislation pursuant to the Equality Act 2010 and the Mental Health (Disc) Act 2013 it is now against the law to remove a director from his position purely because of any mental incapacity?
Would your business continue to run if one or more of the partners or directors lost the capacity to make sensible business decisions?
What is an LPA?
LPAs were created under the Mental Capacity Act 2005 and replaced the old Enduring Power of Attorney.
Full details of the legal and administrative background to a Lasting Power of Attorney can be found at https://en.wikipedia.org/wiki/Lasting_power_of_attorney
If you answer “yes” to any of the following questions you should put your Business LPA in place without delay
• Do you run or own a business, whether a limited company, partnership or sole trader?
• If you lose capacity, through illness or accident, do you want the people you trust to be able to deal with your business?
• Do you want to be able to run your business should one of your co-directors or partners lose capacity?
• Do you want to avoid the distress and substantial costs involved in applying for these powers from The Court of Protection should you or one of your partners or co-directors suddenly lose capacity?
• Do you want to ensure that your business can be managed by the right people, who understand your business?
• Do you want to avoid any possible legal action against you or the business for not having made adequate provision for the running of the business in case of loss of capacity by an owner, partner or director?
The Will Associates representative in Suffolk and Cambridge is Mr Stephen Mills.
For peace of mind, contact The Will Associates today to get your free information pack or by calling 0800 9500 700 to arrange a free, no obligation appointment at a time convenient to you.