The future of your business
A business LPA allows your company to continue operating, making your chosen attorney the decision maker reducing the impact of your incapacity on the business. The most important decision is to decide whom to appoint as your attorneys, ensuring these individuals understand your business and have the skills to continue operating your business on your behalf. You may therefore choose to have different attorneys acting for you under your personal financial affairs LPA and your business LPA as these will often require very different skillsets.
Things to consider
- Making a business LPA
- Estate planning for business owners
- Leaving your business in your Will
- Succession planning
- Matters regarding starting a business
- Updating your Will
Your attorney also needs to be able to work alongside your shareholders, directors and partners. We will also consider how the business LPA will interact with your other company documents such as your articles of association or partnership agreement with the support and collaboration of our corporate colleagues.
Your business and your Will
It is also important to consider how to deal with your business as an asset of your estate and whether there is a tax efficient way of leaving your business in your Will to maximise your possible inheritance tax reliefs.
We will carefully consider alongside your other estate planning objectives to ensure that your Will reflects your wishes for both your personal life and business.
For more information on LPAs for your business, contact our Wills, Probate and Estate Planning Team.
