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Commercial/Business Lasting Powers of Attorney – What are they?
A lasting power of attorney (LPA) is a legal document through which you authorise a chosen person to make certain decisions on your behalf. The decisions that you authorise your chosen person to make can be either in relation to your finances, for which an LPA for property and affairs will be created, or in relation to your personal life, where an LPA for personal welfare will be created. An LPA is a very important document, as it ensures continuity in the management of your life and your finances, should you become unwell or lose the capacity to make decisions. You may feel that an LPA is not necessary, and assume…