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What would happen to your Company if you became ill?

Helen Vorley, F.CILEx Fellow of the Chartered Institute of Legal Executives in Astle Paterson’s Wills & Probate department discusses the potential implications on your Company or business should you become ill.

Helen said “On your death your Will (should you have made one) comes into effect and your business will continue as is set out in your Will.  Things may also be affected by what is set out in Company’s own rules.

However, should you no longer be able to run your Company if, for example, you are involved in an accident or suffer a stroke or other debilitating illness then what would happen to your Company or business?   Would it cease to trade?

To avoid these potential problems you should make a Lasting Power of Attorney.

A Lasting Power of Attorney is a legal document in which a person gives another person (the Attorney) authority to make certain decisions on the maker’s behalf.

The document will provide your nominated person with authority to look after your financial affairs – including any issues concerning your Company or business.  Further, it could give power, should you so wish, to your Attorney to make decisions concerning your welfare and health care.”

At Astle Paterson we offer a fixed fee for the production and registration of Lasting Power of Attorney documents.  Please contact Helen Vorley of Astle Paterson’s Wills & Probate department on either 01283 531366 or by way of email at hvorley@astlepaterson.co.uk to discuss matters further.

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