Wills & Power of Attorney Wokingham
Protecting Your Business and Family in Wokingham
Looking After Your Future
At McKenzie Legal, we don’t just wait until you ring us when a legal issue arises. We like to look after our clients long before then – we want to help you avoid issues and difficulties. As we set out in other parts of this website, we want to work with your business to take proactive steps to reduce the risks that all businesses face. We want to do this with the owners of a business too, so that overall, we help you, your business, and your family to avoid huge disruption, delays and expense later on.
A Will: Comprehensive Protection
Having a Will in place is essential for every business owner. While many believe a Will alone is sufficient, it’s crucial to recognise that a properly drafted and tailored Will is what truly safeguards your affairs. Generic or cheaply obtained Wills often fail to address specific details and can leave important matters unresolved. We work with experienced will-writers who understand the significance of a thorough approach, ensuring your wishes are accurately reflected and legally upheld. Cutting corners at this stage can lead to significant consequences later, including financial loss, prolonged legal processes, and potential conflicts.
Lasting Power of Attorney (LPA): Peace of Mind
In addition to a Will, we strongly recommend establishing a Lasting Power of Attorney (LPA). An LPA enables your chosen individuals to manage your affairs, including your finances and welfare, should you become incapable of doing so yourself. Accidents, illnesses, or conditions can affect your decision-making ability, making it essential to plan ahead. With an LPA in place, your appointed representatives can efficiently handle your financial matters and contribute to your health and welfare decisions. This proactive step can save both money and distress, ensuring that your affairs are promptly and correctly managed during vulnerable times.
Avoiding Costly and Time-Consuming Processes
Without an LPA in place, your family would need to apply to the Court of Protection to appoint a deputy to handle your financial affairs. This process is slow, very expensive, and subject to numerous restrictions. Furthermore, the absence of a registered LPA can severely restrict joint bank and business accounts if one account holder loses mental capacity. Banks and building societies may limit account usage to essential transactions only, impacting business operations and causing significant complications.