A Business Power of Attorney - just in case!
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Ask yourself this....." if I or a fellow Director suffered a medical condition that physically or mentally incapacitated you, how would you keep control of the Company finances?"
Many businesses operate as a sole trader or with one or two directors. There is no automatic assumption that if there are two or more directors the other can step into that person's role and run the business. Simple things like paying bills, dealing with the Company Banking could be a major problem and with data protection tightening, it becomes even more relevant in today's climate.
Personal assets given as guarantees could also be at risk. Banks may even freeze the Company account and pursue recovery of any loans ( your home could also be at risk) if a director is incapacitated for a period of time.
Understandably making sure that continuity of your business in anyeventuality is paramount.
Having a Business Power of Attorney ensures this and legally allows someone you trust to make decisions and deal with financial matters if you were unable to do so yourself.
Get in touch to discuss your options and how we can assist.
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