IOLIS Legal Services

Protecting Businesses with an LPA

Lasting Power of Attorney

A lasting power of attorney (LPA) is a legal document that allows a person (the "donor") to appoint one or more trusted individuals (the "attorneys") to make decisions on their behalf in the event that they become unable to make decisions for themselves. This can include decisions related to financial matters, health and welfare, or both.

There are several benefits to having a business lasting power of attorney in place:

Peace of mind: By creating an LPA, the donor can have peace of mind knowing that their affairs will be taken care of by someone they trust if they become unable to do so themselves.

Flexibility: An LPA allows the donor to choose who they want to act as their attorney and to specify exactly what powers the attorney will have. This gives the donor greater control over their affairs and the ability to tailor the LPA to their specific needs.

Avoids disputes: An LPA can help to avoid disputes between family members or other interested parties who may have different ideas about what is best for the donor.

Protects the business: If the donor is the owner of a business, an LPA can ensure that the business continues to run smoothly in their absence. This can be especially important if the donor is the only person with the knowledge and expertise to manage the business.

In summary, a business lasting power of attorney can provide peace of mind, flexibility, and protection for both the donor and their business. It is an important tool for anyone who wants to ensure that their affairs are taken care of in the event that they become unable to make decisions for themselves.

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Does your organisation need advice about business LPAs? Tell us how we can help you.

Call us to start the conversation on 029 2000 2339 or email contact@iolis-legal.com

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