Business LPA - Protect Your Company with a Business Lasting Power of Attorney

Name: Winston Solicitors
Address: Leeds, West Yorkshire, LS8 2AL, United Kingdom
Telephone: +441133205000

Business LPA - Why It's Important When You Own Your Own Business

Protecting Your Business Interests with a Business LPA

If you own a business, setting up a Business Lasting Power of Attorney (Business LPA) is a crucial step in safeguarding your company. A Business LPA, sometimes referred to as a Commercial LPA, allows your chosen attorney(s) to manage your business affairs if you're unable to do so. This is separate from your Property & Financial Affairs LPA for personal matters, ensuring that your business interests are properly handled by someone you trust.

Why Consider a Business LPA?

A Business LPA can help protect your business continuity and ensure that essential decisions are made if you're incapacitated or otherwise unable to act. However, the effectiveness of a Business LPA depends on several factors:

Restrictions in the Business LPA document: Specific limitations you may place on your attorney's authority.
The company’s articles of association: If your business is a company, the articles may impose restrictions on who can make decisions.
The partnership agreement: For partnerships, the agreement may detail whether an LPA attorney can act on behalf of a partner. If no agreement exists, the Partnership Act 1890 will apply.

Understanding Your Options with a Business LPA

Sole Traders: If you are a sole trader, your Property & Financial Affairs LPA can include business matters. However, ensure any restrictions in the LPA are considered. In some cases, you may not need a separate LPA specifically for business.
Partners in a Business: Check your partnership agreement for any terms about an attorney acting on behalf of a partner. Without an agreement, the Partnership Act 1890 will govern what actions can be taken.
Company Directors: If you're a director, note that a Business LPA may not cover the duties assigned to your role. A director's responsibilities are personal, meaning an attorney can't automatically act in your place. If your company uses model articles, the board of directors must make decisions regarding appointing someone to manage business affairs.

Benefits of a Business LPA

Business Continuity: A Business LPA can help maintain stability during unforeseen circumstances.
Clear Decision-Making: It allows for a trusted individual to make important business decisions.
Protects Your Interests: Business LPAs ensure your business is managed according to your wishes.

Get Expert Advice on Business LPAs

Setting up a Business LPA requires careful consideration of your business structure and legal obligations. Contact us to discuss how a Business LPA can benefit your business and help you prepare for the future. Our experienced solicitors can guide you through the process to ensure that your business interests are fully protected.

To speak to a member of the team about Business LPAs, please contact us on 0113 320 5000 or email us at wills&probate@winstonsolicitors.co.uk.

Client feedback

We are very grateful to Emily and all at Winston Solictors who have gone above and beyond and been so helpful and professional. All queries were responded to quickly and it really felt llike a personal service, tailored to me. We are extremely grateful to them for everything.

Katherine

Emily SPENCER gave me a helpful and timely and efficient update of my will, problem free.

David

The work was done in a timely & professional manner

Anonymous

Emily Spencer helped us review & redraft our wills. From start to finish Emily was very efficient and helpful. She explained legal issues. Very clearly for us. We would highly recommend her.Many thanksLouise Elliott

Louise

Aged 91 I needed to rewrite my will and transfer my affairs from a city-centre solicitor to one more accessible for myself and my executors. Winston proved an ideal choice. Emily was most helpful and efficient with the will, and I am confident that my estate will be dealt with just as well.

David

I recently had my will written by Winston's Solicitors, and I couldn't be happier with the experience. From my very first contact with the firm, every member of staff was professional, courteous, and attentive to my needs.The solicitor who handled my will took the time to explain everything clearly, making sure I understood each part of the process and felt confident in the decisions I was making. There was no rushing or jargon — just clear, patient guidance through what can often feel like a daunting task.What stood out most was the consistent professionalism across the entire team, from initial enquiry to the final signing. It's clear that client care is a genuine priority at this firm, not just a tagline.I'd happily recommend Winston's Solicitors to anyone looking for a trustworthy, knowledgeable, and professional team to handle their will or other legal matters. Thank you for making the process so straightforward and stress-free.

Richard

We are very grateful to Winston Solicitors for their help in sorting out matters relating to a Last Will and Testament along with a Family Trust. As this was not a straightforward matter, we had no idea where to begin but, thanks to Monika Volsing and her team, this has now been completed. It has taken a good few months but Monika has been there to explain and carry out every step that needed to be undertaken. There is no way we could have done this without Winston Solicitors and I cannot recommend them highly enough

Lynne

Emily provided very clear advice and was extremely professional, proactive and efficient.

Philippa