Physical or mental incapacity can affect anyone and often without warning. You could be left in a position where you are unable to manage your affairs in the way that you would normally expect.
If you are a director of a business, who is running the business?
If you are administering a trust, who will be managing the trust for the beneficiaries?
As a business owner you need to consider what would happen if you or your colleagues lose capacity to manage the business. Perhaps you have a written partnership agreement that deals with what happens in the event of illness or incapacity. Have you considered appointing a business attorney?
If you are a trustee and lack capacity, there may be a need to appoint new trustees – this can mean an application to the Court of Protection.
If you would like help with any of these issues, or if you need to apply to the Court of Protection to make an application regarding a business, our team of experts can help. We can help you prepare for the worst, and manage any crisis that may arise.