A Business Lasting Power of Attorney (LPA) is an essential legal safeguard for business owners, company directors, and partners. It allows you to formally appoint trusted individuals to manage your business affairs if, for any reason, you become unable to make decisions yourself.
Without this protection in place, your business could face serious disruption — from frozen bank accounts to missed payments and stalled decision-making. Unlike standard LPAs, which are designed for personal matters, a Business LPA focuses on maintaining the smooth running of your business and protecting its long-term stability.
A standard personal LPA doesn’t usually cover the specific responsibilities or authority needed to manage a business effectively. A Business LPA, on the other hand, ensures that:
Your business continues to operate smoothly if you are unable to act.
Authorised attorneys can make key decisions such as signing contracts or managing company finances.
Potential disputes between partners, shareholders, or directors are avoided.
Your business assets, value, and reputation remain protected.
Relationships with clients, suppliers, and financial institutions stay intact.
Succession and continuity planning become easier and more effective.
A Business LPA is strongly recommended for anyone involved in business management or decision-making, including:
Sole traders who are solely responsible for running their business.
Company directors whose absence could affect voting or decision-making.
Business partners who play a key role in daily operations.
Shareholders with significant control or ownership.
Signatories on business bank accounts.
Family business owners and other key decision-makers.
At Solutas Legacy, we provide specialist advice and tailored documentation to protect your business interests through a properly structured Business LPA. Our service includes:
Personal consultation to review your business structure and requirements.
Assessment of potential risks and areas of vulnerability.
Preparation of bespoke LPA documents that reflect your business operations.
Guidance on appointing the most suitable attorneys for your company’s needs.
Clear separation between personal and business authority.
Full registration with the Office of the Public Guardian.
Integration of your LPA with wider succession and continuity planning.
In the UK, there are two main types of Lasting Power of Attorney, each designed to protect different aspects of your life and wellbeing. Many people choose to have both in place for complete peace of mind.
This type of LPA allows your appointed attorney(s) to manage your financial matters and property. It ensures your money, assets, and day-to-day finances are looked after responsibly if you’re unable to do so yourself.
This LPA gives your chosen attorney(s) the authority to make decisions about your health, care, and personal welfare — but only if you are no longer able to make those decisions yourself.
Our experienced team provides personalised guidance to help you protect your assets and plan for the future with confidence.
A Lasting Power of Attorney (LPA) is a legal document that allows you to appoint one or more trusted people — known as your attorneys — to make decisions on your behalf if you ever become unable to do so yourself, whether due to illness, accident, or loss of mental capacity.
Without an LPA in place, your loved ones would need to apply to the Court of Protection to gain authority over your affairs. This process can be lengthy, stressful, and expensive.
There are two main types of LPA:
Property and Financial Affairs LPA – enables your attorneys to manage your money, property, and other financial matters.
Health and Welfare LPA – gives your attorneys authority to make decisions about your care, medical treatment, and daily living arrangements.
Having both types ensures that every aspect of your life — financial and personal — is properly protected.
Once you’ve signed your LPA, it must be officially registered with the Office of the Public Guardian (OPG) before it can be used. Registration typically takes around 8 to 12 weeks, although it may take longer during busy periods — sometimes up to 22 weeks.
Until registration is complete, your attorneys do not have any legal authority to act on your behalf.
After registration:
A Property and Financial Affairs LPA can be used immediately (if you wish), or only once you lose capacity — depending on your preference.
A Health and Welfare LPA can only be used when you are no longer able to make those decisions yourself.
Your LPAs remain valid throughout your lifetime and automatically end upon your death.
A Property and Financial Affairs LPA can take effect as soon as it’s registered with the OPG, provided you give your attorneys permission to act while you still have mental capacity.
A Health and Welfare LPA, however, only comes into force if you become unable to make specific health or care decisions yourself.
You can also include restrictions or conditions within your LPA to make clear exactly when and how your attorneys can act.
Having properly registered LPAs in place is becoming increasingly vital, as many organisations now require formal legal authority before allowing anyone else to manage your affairs. Acting without such authorisation can even amount to a criminal offence.
Your consultation is completely free, confidential, and designed to help you make informed decisions for the future.
