Protecting your business and staff with a Lasting Power of Attorney
Why business owners need LPAs
A lasting power of attorney (LPA) allows you to appoint trusted people to step in if you cannot make decisions because of an accident, illness or cognitive decline gov.uk. Government guidance notes that a property and financial affairs LPA empowers the attorney to manage bank and building society accounts, pay bills and handle property transactions, which include paying staff and creditors.
Without this authority, a company’s bank accounts and jointly held assets may be frozen if a director, partner or sole proprietor loses the ability to make decisions – even relatively briefly.
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Age UK warns that errors in completing LPA paperwork can lead to rejection and that the Office of the Public Guardian currently takes around 10–12 weeks to register an application. Many business owners assume their spouse, co‑director, or staff could take over, but Stephen Pett points out that in many cases, only registered LPAs give them that legal authority; otherwise, decisions will be delayed while the Court of Protection appoints a Deputy. During that time, wages, supplier payments and tax liabilities may go unpaid, causing significant disruption or even bankruptcy.
Specialist advice tailored to entrepreneurs
Stephen Pett has over twenty‑five years’ experience helping individuals and businesses put robust estate‑planning arrangements in place. As a senior member of the Society of Will Writers and former regional chairman, he keeps his knowledge current through extensive continuing professional development. Recognising that entrepreneurs’ diaries are often full, he focuses on convenient advice by telephone or video across England and Wales. There’s no need to disrupt your business to attend multiple face‑to‑face meetings; discussions about who should have authority to pay staff, settle invoices and keep the business running can all be handled remotely at times that suit you.
Stephen emphasises that both the financial and health‑and‑welfare LPAs should be prepared, and that they are even more important than Wills. He spends time understanding the structure of your business and the people you trust so that the documents appoint the right attorneys rather than relying on generic form‑filling. Registering the LPAs early – while you are fully fit – is crucial because the Public Guardian’s approval process takes months.
Accidents, strokes and sudden‑onset dementia are unexpected and generally sudden. Without a registered LPA, even a temporary incapacity could leave employees and suppliers unpaid.
Feedback from business clients
Reviews of Stephen’s practice highlight his professionalism and understanding of business needs. One client reports that he “always goes above and beyond” and is “knowledgeable and trustworthy”
Another business owner notes that he provided clear and impartial advice and delivered a professional service at a fair price. Clients appreciate that he is happy to answer questions months after the documents are completed and that he accommodates meetings around their schedules.
This level of flexibility means business owners receive tailored support without sacrificing their day‑to‑day operations.
Why entrepreneurs choose Stephen Pett CmpnSWW, DMS, AffSTEP
| Strengths | Evidence |
|---|---|
| Business continuity planning | Highlights that without LPAs, joint accounts and business finances may be frozen when a director or sole proprietor loses capacity |
| Deep estate‑planning expertise | Over two and a half decades of experience and recognition as a Companion of the Society of Will Writers. |
| Up‑to‑date knowledge | Exceeds CPD requirements and emphasises the need to stay abreast of changing law and tax. |
| Flexible, remote advice | Provides telephone and video consultations across England and Wales, allowing business owners to plan without leaving the office. |
| Emphasis on both LPAs | Advises preparing both financial and health‑and‑welfare documents because each plays a critical role. |
| Transparent pricing and ongoing support | Promises fair prices with no sales tactics and remains available to answer questions long after completion. |
Summary
For entrepreneurs, incapacity can quickly become a business crisis if no one has legal authority to pay salaries, settle bills or sign contracts. Government guidance makes it clear that a property and financial affairs LPA gives attorneys the power to manage accounts and pay bills, while Age UK warns that incorrect paperwork can delay registration. Stephen Pett combines professional credentials with the flexibility busy business owners need. By offering remote consultations throughout England and Wales, focusing on both types of LPA and tailoring documents to each client’s needs, he ensures that directors, partners and sole proprietors can protect their companies against the unexpected. His transparent fees and ongoing support have earned him a reputation for reliability.
Preparing an LPA with Stephen is therefore an essential step in safeguarding your business continuity.