Suffering from a serious illness or becoming incapacitated can have an affect far beyond a personís family and personal life. For a business owner, any serious change to health, such as having a stroke, could be detrimental to their ongoing financial position unless they have made adequate provision in advance.

Lasting Powers of Attorney allow you to choose a person, your ëattorneyí, to deal with your finances as you would like, should anything happen to you. Your attorneys must agree to act in your best interests.

Without a Lasting Power of Attorney, a ëdeputyí would have to be appointed by the Court of Protection†if you were to become incapacitated. Such an appointment could take months to arrange, potentially delaying any business and financial decisions in the interim. Itís likely a professional would also have to be enlisted to deal with the business.

Lasting Powers of Attorney should be of huge importance to you if you are a business owner. In addition, if you have business partners or other directors in your company, you should ensure they have made suitable arrangements to allow the business to continue should anything happen to them.

To arrange your Lasting Powers of Attorney or to find out more, please call us on 02031287081 or†CONTACT US by email by clicking on the link.

Ashton Grace ñ specialists in Wills & Estate Planning.