This is a question most business owners do not want to think about, but it is an important one. If you suddenly became incapacitated, even temporarily, who would have the legal authority to act on your behalf? Who would be able to access your accounts, make payments, or handle critical decisions in your absence? Would you – or the staff – be paid?
Many assume a spouse, business partner, or close colleague could simply step in — but legally, it is not that straightforward. Without a Lasting Power of Attorney (LPA) in place, no one has automatic authority to act for you, even in an emergency.
Banks will freeze accounts – even joint ones. Contracts may go unsigned. Suppliers may be left waiting. The day-to-day running of your business can come to a standstill at exactly the time you need it most.
Putting an LPA in place means you can nominate someone you trust to act on your behalf if needed. It is a legal document that protects you, your clients, your employees, and the stability of your business.
Whether you are a sole trader or run a limited company, the risks of not having an LPA far outweigh the time it takes to put one in place.
If you would like advice on the right type of LPA for your business, or want to discuss how the process works, feel free to get in touch.
Book your LPA consultation today with Steve Pett CmpnSWW, AffSTEP, DMS: The Professional Will Writer – Eastbourne’s trusted specialist.
☎ Call 01323 766766 or visit The Professional Will Writer.
