Making your Will and Enduring Power of Attorney is an important step towards getting your estate planning sorted, but if you have one or more companies that you control, you may also need to consider a power of attorney for those companies.
A Company Power of Attorney allows a trusted person to step in and act on behalf of your business if directors are unavailable due to death, illness, incapacity or even extended travel. This is particularly important where there is a sole director or where two directors are spouses.
It can help your business:
- Keep operating day-to-day.
- Sign contracts and access funds.
- Pay staff and manage urgent matters.
- Maintain continuity during unexpected events.
Importantly, it doesn’t replace directors – it simply ensures someone can step in when needed to keep things running.
Not every company needs one, but it’s especially useful for businesses that are active, time-sensitive or reliant on key individuals.
Without proper planning, even simple tasks like paying staff or signing contracts can be delayed if no director is available.
A Company Power of Attorney is often a short-term safeguard while longer-term succession arrangements are put in place.
Book a free chat with us today to discuss whether a Company Power of Attorney is the right fit for your business needs.
We are experienced Wills and Estate Planning lawyers based in Prospect and work with families across Adelaide to help you put in place an Estate Plan that reflects your values and gives you confidence about the future.