Having a Business Lasting Power of Attorney (LPA) in place could protect your business from many potential issues.

It’s like an insurance against the future of your business, but it is something that many companies have not yet considered.

If the worst were to happen, it could even mean the end of your business, without the remaining directors having any control over it whatsoever.

If the idea of a Business LPA concept is new to you, or you’re not sure if it’s right for your business, please download our free guide to find out all you need to know to help you make the right decision for your company.

Why have a Business Lasting Power of Attorney?

If you don’t have a Business Lasting Power of Attorney (Business LPA) if the business owner, one of the partners or directors lacks mental capacity:

  • The bank is more likely to freeze a business bank account, even if there are other signatories.
  • Contracts may not be valid, declared void or unenforceable.
  • There can be regulatory breaches affecting other partners or directors.
  • There is crisis management implications for the whole business.
  • It may also affect the businesses insurance.

Alternatively you can make a Business LPA to have peace of mind.

Call us and speak to the person who wrote the textbook about making your Lasting Powers of Attorney for you.

We Wrote the Textbook – Literally

We can confidently say we’re one of the UK’s leading experts when it comes to Business Lasting Power of Attorneys.

Craig Ward, one of the solicitors at Linley James Solicitors, wrote the textbook on it: “Lasting Powers of Attorney (4th Edition) 2019” after he found a legal gap regarding businesses and their protection. Thanks to his forward thinking, businesses can now secure themselves against this huge potential problem.

Why choose Linley James Solicitors 

As part of making a Lasting Power of Attorney with us we’ll

    • Review your financial situation to advise on points to consider

    • Advise on long term care planning

    • Review your will if you have one

All included in making your Lasting Power of Attorney

Removing Partners or Directors

It can be hard to remove a partner or director who lacks mental capacity as they cannot consent to being removed. However, they can be removed using a Business LPA.

If there’s not a Business LPA in place, an application can be made to the Court of Protection to have a financial Deputy appointed. This application can take several months, during which time:

  • the business will not be able to operate properly
  • decisions may not be appropriately made
  • other businesses may not wish to do business with you
  • even if there are other partners or directors

To find out more including who your attorney could be and what’s involved with an LPA, please download our free guide, or set up a meeting with one of our team.