Advance directives and emergency planning for entrepreneurs and private individuals.
When suddenly no one is making decisions anymore – are you prepared?
The crucial question is:
Who will act if you are suddenly unable to?
In this article, we address the topic of contingency planning and how to prepare for unpredictable situations.
When the boss is absent: standstill or stability?
In many SMEs, a surprising amount depends on the management team. If they suddenly become unavailable, critical problems quickly arise.
- Payments remain outstanding
- Employees do not know who makes decisions
- Banks, suppliers or customers are waiting for signatures
- Contracts cannot be concluded or terminated
- The future of the company becomes unclear
In short: without contingency planning, even a healthy company can become incapacitated within days.
The solution for businesses: a clear emergency plan
Well-thought-out emergency planning ensures that operations continue even in crisis situations.
Important elements of corporate contingency planning:
- Arrangements for deputy decision-making
- General or special powers of attorney for banks and contracts
- Clear documentation of passwords, contracts and contacts
- Access to salary, accounting and payment transaction information
- Succession and ownership arrangements
- A digital emergency folder containing all key information
GOAL: Ensure you can act, not just react, when there’s a fire!
Advance directive: Who makes decisions for me as a private individual?
It’s not just companies that are affected – private individuals should make provisions, too.
A lasting power of attorney determines who will make decisions on your behalf if you become unable to make them yourself, for example due to an accident or illness.
It covers three areas:
- Personal care: Who makes medical, personal and everyday decisions?
- Financial management: who manages your accounts, bills, property and insurance policies?
- Legal matters: Who signs contracts or represents you in dealings with the authorities?
IMPORTANT: Without a lasting power of attorney, the KES (Office for child and adult protection) will decide in an emergency – well-intentioned, but not always in the best interests of the persons concerned.
Entrepreneur? Then you need both.
Anyone who runs a business should make provisions for both their private AND business affairs:
PRIVAT:
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Advance directive
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Living will
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Marriage/inheritance arrangements
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Asset protection
BUSINESS:
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Emergency plan
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Representation arrangement
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Succession planning
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Business continuity
The best precaution is a comprehensive approach rather than individual solutions.
5 tips for smart pension planning – from your trustee
- Plan ahead – Don’t wait until an emergency arises. Planning ahead is like a parachute: you hope you’ll never need it, but if you do, you’re glad you have it.
- Clearly define responsibilities, as unclear responsibilities pose a risk both privately and professionally.
- Keep documents up to date – planning ahead is an ongoing process that should be reviewed regularly.
- Involve family and key individuals: open communication prevents conflicts in an emergency.
- Seek professional support: fiduciary, legal and pension matters are interlinked, so coordinated planning will save you time, money and stress later on.
Conclusion: Prevention is care
Whether you are an entrepreneur or a private individual, providing for the future is important.
Taking responsibility for your future means taking responsibility for yourself, your family, your employees and your life’s work.
In other words:
‘It’s better to have an emergency plan and never need it than to have no plan and find yourself in an emergency.’
Hanna Treuhand is pleased to assist you…
We can help you with:
- Precautionary measures
- Contingency planning for businesses
- Powers of attorney and succession planning
- Structured precautionary advice
- Creating an emergency folder
Get in touch with us. We think about tomorrow today.

