Wednesday 23 May 2012

LPA's for Businesses

Article by
Craig Ward
What would happen to your business if you were unavailable for a month? This can so easily happen, you get stuck abroad with flight delays, you’re injured and need to recuperate, or you could lose mental capacity. These situations can be managed by making a Financial Lasting Power of Attorney for Businesses. A Lasting Power of Attorney lets you appoint someone who knows your business well to manage it if you’re not able to. Your business may have taken years to build up, in just a short month it could be wiped away which is a waste.

Banks are more likely to freeze business accounts and recall loans and mortgages than on personal accounts. In today’s financial climate many loans are held against homes, which would be sold if your business folded. After 28 days creditors would also want paying and would consider what suitable action to take.

Making a Financial Lasting Power of Attorney for you business protects you, your business and your family. If you’re a sole trader, a company director or partner a Financial Lasting Power of Attorney is for you.

Who would want to be without one?

For more assistance or to arrange an appointment please telephone 01992 422128 or email

Tel: 01992 422 128

The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.

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