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LPA Cymru is a Welsh law firm which specialises in Lasting Powers of Attorney.
It’s important to think about what would happen to your business if you were unable to make decisions and run the business yourself. For example, if
- you had an accident at work
- you were involved in a road traffic accident
- you were to have a serious illnesses such as a stroke or cancer
- you spend long periods of time abroad
Many people assume that family members will be able to step in and authorise payments to suppliers, sign cheques, deal with your business finances and pay business loans and salaries. However, without the legal authority to do so, other people are not entitled to make business decisions or on your behalf.
What would happen to your business if nobody was managing it for an extended period? Often, banks and third parties will refuse to deal with anyone but the account holder.
One of the best ways to plan for this eventuality is to register a Business Lasting Power of Attorney. By doing this, you can appoint a family member or even a trusted business colleague to manage your business affairs if you lose capacity.
This is particularly important if you are a sole trader or the sole director of a private limited company.
- Free telephone consultation to discuss whether an LPA can meet your business needs
- We come to you- home/on site visits at no extra cost
- Fixed fees of £250 to prepare and register your LPA from start to finish (the OPG also charges a separate registration fee of £82 to register each LPA).