Business Owners: Why Your Will and LPAs Matter More Than Ever

Running a business takes energy, focus, and dedication. But while you're busy building your success, it's easy to overlook what would happen if you were no longer here....or suddenly unable to make decisions.

If you’re a business owner, making a Will and putting Lasting Powers of Attorney (LPAs) in place isn’t just smart… it’s essential.

Why your Will matters more when you run a business

Your business may be one of your most valuable assets, and one of the most vulnerable if you're no longer around to manage it.

Without a Will:

• There’s no clear direction on who should inherit or run your business

• The business could fall into the wrong hands, or be forced into closure

• Family members or co-owners may face disputes or costly delays

Your Will should clearly set out:

• Who will inherit your business or shareholding

• How any partnership or shareholder agreements interact with your estate

• What protections are needed to preserve business value for your family

  
  

Why LPAs are vital for business continuity

Many people think LPAs are only for personal matters, but if you're temporarily incapacitated (due to illness, injury, or accident), who will make business decisions on your behalf?

Without a valid Property & Financial Affairs LPA:

• Your accounts may be frozen

• No one can authorise payments, sign contracts, or make financial decisions

• Day-to-day operations could grind to a halt

You can make a separate Business LPA, choosing someone with the skills and authority to manage things in your absence.

You are your business’s most valuable asset

Your time, your knowledge, your decisions, they keep everything moving. But if something happens to you, without the right legal documents in place, your business (and your family’s financial security) could be at serious risk.

Book your free estate planning review today.

Let’s make sure your business, and your loved ones, are properly protected.