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Business Wills
When creating a business Will there are few more things to consider compared to creating a personal Will.
When you are focused on the day to day running of your business you don’t always think about what if I am not here or what will happen to your business regarding your decisions, orders to fulfil, outstanding invoices, the list can be endless for those left behind.
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Business Lasting Power of Attorney
A business Lasting Power of Attorney allows the donor to appoint an attorney to make decisions concerning their business interests when they are unavailable or unable to carry out their duties or a lack mental capacity.
Donors may create multiple Lasting Powers of Attorney (LPA) such as one for personal and one for business. The choice depends on the donor and the donor's interest and liabilities.
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Trusts
A business trust is where the business owner/shareholder called the ‘settlor’ transfers what he or she owns, money, assets or shares into a trust which becomes the property of the trust, this can happen within a business Will or a business lifetime trust.
Why create a business trust
There could be various reasons why someone would create a business trust, such as:
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Business Insurance
Business protection Insurance is a necessity for any business large or small and we can provide public liability, indemnity, stock insurance and more. In fact, we provide all forms of commercial insurance.
With over 90% of UK businesses being Small and medium-sized enterprises (SMEs) and more than half of these have inadequate protection, we are perfectly placed to help you put a plan in place.
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Assets & Commercial Finance
Coming soon…