- 01933 588990
- enquiry@nenelegal.co.uk
Running a business involves planning for the unexpected. A business Lasting Power of Attorney (LPA) can allow someone you trust to make decisions about your financial interests if you are unable to do so, subject to the terms of the LPA and any relevant business arrangements.
At Nene Legal, we take time to understand your business and explain the options in plain English. We can consider your partnership agreement, company articles and other arrangements alongside your personal estate planning. We offer friendly advice and free home visits in Rushden, Higham Ferrers, Kettering and Northampton.
Contact Nene Legal to discuss your circumstances and our fees.
Contact Nene Legal on 01933 588990 to discuss what we can do to help you preserve your business continuity with a specialised Business LPA.
A business LPA may be useful for sole traders, partners, company directors and shareholders who want to plan for a time when they cannot manage their financial affairs. The arrangements you need will depend on your role and how the business is structured.
For a company, an attorney does not automatically become a director or gain authority over company assets or bank accounts. An attorney may be able to act in relation to your personal interests, such as shares and associated voting rights, subject to the LPA, company documents and applicable rules.
We can help you consider your circumstances alongside the relevant partnership, shareholder and banking arrangements.
If illness or injury prevents you from managing your financial affairs, a registered business LPA can provide a way for your chosen attorney to make decisions about the matters covered by the document. Planning ahead may reduce uncertainty for you, your family and your business.
The LPA needs to work alongside your business structure, company articles or partnership agreement and any arrangements with your bank. It does not replace a company’s own management or automatically give an attorney a director’s powers. We can discuss the practical steps and whether advice from your other professional advisers is needed.
A business LPA is a Property and Financial Affairs Lasting Power of Attorney arranged to cover your business-related financial interests. It lets you appoint someone you trust to act on your behalf within the authority you give them.
You may wish to appoint a different attorney for business matters and personal finances. Separate LPAs need carefully drafted, coordinated instructions so their scope is clear. Once registered, a Property and Financial Affairs LPA may be used while you have capacity if you have allowed this and give permission, and can also be used if you lose capacity.
Find out more about Lasting Powers of Attorney for personal matters, or contact us to arrange an appointment.
