Business protection

Business lasting
power of attorney

Many people rightly put a personal Lasting Power of Attorney (LPA) in place to ensure trusted individuals can act on their behalf if they become unable to make decisions. But what if you run a business? It’s just as important to consider how decisions would be made on the professional side too.

A Business LPA gives someone you choose the authority to step in and keep things running if you’re unable to do so — even for a short period. It’s a practical way to protect your operations, your team and the value of your business.

Why a Business LPA matters

Being without an authorised decision-maker, even temporarily, can create immediate challenges for your business. Banking arrangements, contracts, payroll and key operational decisions can all be disrupted if no one has the legal authority to act.

A Business LPA helps avoid this by appointing attorneys specifically empowered to handle business matters. This ensures continuity and stability, complementing the wider business protection measures you may already have in place.

Business LPAs vs personal LPAs

A Business LPA is distinct from a personal LPA. While a personal attorney may support your private affairs, they may not have the specialist knowledge — or the legal authority — to make decisions for your business.

A Business LPA allows you to:

  • Choose someone with appropriate business experience
  • Define clear boundaries around their authority
  • Ensure business decisions can continue without delay
  • Align your planning with shareholder or partnership agreements

Putting the right arrangements in place

Setting up a Business LPA is relatively straightforward. However, every business is different, and your LPA should reflect the nuances of how yours operates. We work with you — and where needed, your legal advisers — to create a Business LPA that sits comfortably alongside your existing structures and protection strategy. This creates clarity, reduces uncertainty and offers peace of mind to everyone who relies on the continued running of your business.

We’re here to help

If you’d like to understand whether a Business LPA is appropriate for you our specialists are here to help. Give us a call on 020 7444 4030 or contact us here.

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