An old client contacted me the other week. His accountant has told him that one of his clients had died leaving behind multiple companies of which he was the director and no Will. The companies will now languish until one or more administrators are appointed by the Supreme Court.
Even with a will, the companies can languish until probate is granted.
The solution, a General Power of Attorney like this, by which all of the companies appoint the same attorney to take over in the event of the sole director having a mishap and being unable or unwilling to act as director any longer.
Every sole director company should have one. Are you a sole director?