Running a business demands commitment and foresight. But what would happen if you, or another key decision-maker, were unable to make crucial business decisions due to illness or loss of mental capacity?
A Business Lasting Power of Attorney (LPA) ensures your company continues to operate smoothly under trusted authority, without financial disruption or legal complications.
A Business Lasting Power of Attorney allows you to appoint one or more trusted individuals (known as attorneys) to make decisions about your business affairs if you become unable to do so.
These can include managing bank accounts, authorising payroll, signing contracts, paying suppliers, or dealing with HMRC.
Without an LPA in place, your business could face temporary closure, frozen accounts, or delayed operations while the Court of Protection appoints a deputy, a process that can take months.
The business and the owner are one legal entity.
If you lose capacity, your business may have to stop trading.
A Business LPA lets someone you trust continue operations and manage finances.
Directors should each have a Business LPA.
An LPA avoids uncertainty and keeps your company operational.
Each partner should have their own LPA.
At Olimaine Wills & Estate Planning in Paignton, we understand how vital your business is to your livelihood, family and staff.
We offer specialist guidance to business owners across Torbay, Torquay, Brixham and Newton Abbot, helping you protect your business interests and prepare for the unexpected.
When you work with Olimaine, we’ll help you:
Once in place, you can rest assured your business will continue to run smoothly, even if you’re unable to act.
You can appoint anyone you trust who understands your business — such as a business partner, accountant, or family member. They must be over 18 and capable of handling financial decisions.
Yes. A Business LPA covers only your business decisions. You’ll also need a Property and Financial Affairs LPA for personal matters.
Costs vary depending on your structure and complexity, but Olimaine provides transparent, fixed-fee pricing for businesses in Torbay and the surrounding area.
Without one, no one can legally act for you. Your business bank accounts may be frozen until a deputy is appointed by the Court of Protection — a process that can take months.
Don’t leave your business exposed to unnecessary risk.
Olimaine Wills & Estate Planning — trusted by businesses across Paignton, Torquay, Brixham and Newton Abbot.