Private Business Preservation
We offer a Private Business Preservation Package, which is designed to preserve your personal interest in your business and keep it running if anything happens to you.
This package includes a bespoke Business Lasting Power of Attorney and a Business Will.
What is Business Lasting Power of Attorney?
A Business Lasting Power of Attorney (LPA) is a form of Lasting Power of Attorney and an effective way of protecting your business from the operational impact of sudden and unforeseen absence.
It is a legally binding document, dealing with business assets only, which assigns one or more trusted people to help you make decisions or to make decisions on your behalf if you are unable to do so.
Business LPA’s can be as detailed as you like and can appoint multiple Attorneys to handle different areas of the business. They provide a platform for you to explain to your Attorney(s) exactly how you would like your business to be run and what they should do with it in certain sets of circumstances. This may include the way in which they continue to keep it going whilst you are unable to, or the steps you would like them to take to close the business by way of sale, transfer or otherwise.
Your Business LPA should also give permission to your Attorney(s) to employ the services of other professionals, generally or specifically, to assist them.
What is a Business Will?
Wills have always been an important part of succession planning for business owners and investors. Without a Will to direct how your professional interests should be managed, your business could face immediate operational issues and your estate may be dealt with in a way which depreciates its value.
Effective succession and inheritance tax planning ensures that when the time comes, assets are passed on to the right people in a way that maximises the available tax reliefs.
We call Wills which contain important directions regarding business and professional interests, Business Wills.
Not sure if you need a Private Business Preservation Package?
Whatever your age, the sad reality is that anyone can become incapacitated or worse through illness or accident.
Ask yourself what you want to happen to your business interests if you are suddenly unable to manage them yourself? Do you really want to leave that to chance?
We specialise in helping business owners, directors and investors protect their professional interests from personal life events so they can achieve their ambitions and leave a legacy to those they intended. Please read our blogs:
If you would like to instruct a solicitor to assist with probate, you can contact Sangeeta Rabadia directly by email or phoning +44 (0)20 7993 2936.
Filed Under: Insight
Do I need a Prenup and do they work?
No one wants to think about separating before they are married, but the reality is relationships do break down and pre-nuptial agreements (or prenups) are increasingly becoming a feature of modern marriages and civil partnerships.
It can be tempting to concentrate on the dress and the party, but marriage is a contract and a contract that confers significant rights on your intended. If a marriage or civil partnership does breakdown, then those without a prenup run the risk of years of protracted litigation over the marital estate. If you have significant assets before you marry, or perhaps you want to ensure existing children are looked after no matter what, then a prenup might be worth considering.
Lawyers Available Out of Hours For Remote Appointments
You can rest assured that we employ modern technology and working practices all year round, so COVID-19 will not disrupt the service you receive from our team.
Whether you are based in UK or overseas, appointments are always available via Skype, video call and on the telephone, at a time that suits you.
Whatever your schedule and commitments, our team of lawyers is ready to provide bespoke legal advice tailored to your situation.
Why You Should Update Your Will As Soon As You Decide To Separate
Business Owners Should protect their operations in case they are incapacitated by Coronavirus
Should I Get a Will or Lasting Power of Attorney Because of Coronavirus?
Urgent Applications to the Court of Protection in the wake of Coronavirus
The Tax implications of Cohabiting vs Marriage or Civil Partnership
Can I Protect My Will Against Challenges?
Supporting the Great British Entrepreneur Awards 2020
Learn more at www.greatbritishentrepreneurawards.com
Started in 2012 to celebrate, champion and support enterprising minds in Great Britain, the Great British Entrepreneur Awards is more than an awards programme. It is a community that supports one another, recognises successes and makes connections to enable Great British entrepreneurs and businesses to thrive. We are proud to be part of that community.
When Should Entrepreneurs Consider Succession Plans?
Wills have always been an important part of succession planning for business owners and investors. Without a Will to direct how your professional interests should be managed, your business could face immediate operational issues and your estate may be dealt with in a way which depreciates its value. Effective succession and inheritance tax planning ensures that when the time comes, assets are passed on to the right people in a way that maximises the available tax reliefs. We call Wills which contain important directions regarding business and professional interests, Business Wills.
We review the key considerations for business owners and anyone holding business interests, such as stocks or shares, when preparing a Business Will.
Do Entrepreneurs Need a Business Power of Attorney?
Achieve Your Life Goals Series: Using the Law to Align Your Professional and Personal Ambitions
Hosted by: Fresh Business Thinking
Date: Tuesday 13th October 2020
WATCH REPLAY: Click here
Achieve Your Life Goals Series: Shield Your Business from Issues in Your Personal Life
Hosted by: Fresh Business Thinking
Date: Tuesday 17th November 2020
WATCH REPLAY: click here
Achieve Your Life Goals Series: Understand how your Relationships can affect your Business
HOSTED BY: FRESH BUSINESS THINKING
DATE: TUESDAY 19TH JANUARY 2020
WATCH REPLAY: CLICK HERE
About Us
As a specialist firm, we focus on all areas of family law and legal matters that affect private wealth. Our solicitors are experienced, realistic and focused on achieving the best results for you and your family.
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Contact
[email protected] (+44) 020 7993 2936
Head Office
44 Southampton Buildings,
London, WC2A 1AP
Hertford Office
114-116 Fore Street, Hertford,
SG14 1AJ
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Allard Bailey Family Law is a practice name of Allard Bailey Family Law Ltd, a company registered in England and Wales (no 10359344) and authorised by the Solicitors Regulation Authority (no 634271) Privacy Policy