A Question of Capacity

Future-proofing your business against incapacity.

Individuals may have thought about Lasting Powers of Attorney in order to manage their personal affairs and requirements later in life when they might reach a state of incapacity in old age or due to accident or illness.

What is less well-known, but of great importance, is protecting the interests of business owners and their organisations in the event of incapacity (including preparing business Lasting Powers of Attorney). Incapacity is often forgotten in business planning, but business owners should think about crisis management for now and in the future.

Crisis management planning is vitally important in any business to ensure continuity if the worst happens in the future. Inadequate planning will not only have an immediate detrimental effect on the business’s activities, but it may affect the value of the business on a potential sale or exit. In this context, the possibility of key officers and personnel becoming incapacitated is often overlooked.

We have prepared an essential guide, A Question of Capacity, which summarises how you can protect your business against incapacity. It outlines key points for consideration to ensure you, as a business owner, can put your business in the best position possible.

LASTING POWERS OF ATTORNEY EXPLAINED

What are lasting powers of attorney? Why make an LPA ? What does it cover? When can an LPA be used? What information is needed? Our guide on making an LPA covers everything you need to know when considering giving another person certain authority to make decisions, in circumstances where you no longer have the mental capacity to do so on your own.

Download guide to LPAs

Read our guide for business owners on protecting your business against incapacity.