The difference between a Will and a Lasting Power of Attorney (LPA)

Lasting Power of Attorney vs. Will: What’s the Difference?

A Lasting Power of Attorney (LPA) is very different from a will. In fact, they serve opposite purposes.

A will protects your beneficiaries’ interests after you die, while a Lasting Power of Attorney protects your own interests while you’re still alive—right up until the moment you pass away. Once you die, the LPA ends and your will takes effect. There’s no overlap.

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What Is a Lasting Power of Attorney?

By setting up a Lasting Power of Attorney, you give someone you trust the legal authority to make decisions and act on your behalf in your best interests while you’re alive. This can include decisions about your finances, property, and healthcare.

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Why You Should Set Up an LPA Early

If you wait until you need someone to act for you, it’s often too late to create an LPA. Think of it like insurance—you hope you never need it, but it’s essential to have in place.

Without a valid Lasting Power of Attorney, decisions about your financial and medical needs could be made by people you wouldn’t have chosen.

Frequently Asked Questions About Lasting Power of Attorney (LPA)

1. What is a Lasting Power of Attorney (LPA)?

A Lasting Power of Attorney is a legal document that allows you to appoint someone you trust to make decisions on your behalf if you become unable to do so yourself.

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2. How is an LPA different from a will?

A will takes effect after you die, protecting your beneficiaries’ interests. An LPA applies while you are alive, ensuring your financial, property, and healthcare decisions are managed according to your wishes.

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3. When should I set up a Lasting Power of Attorney?

It’s best to set up an LPA as early as possible. If you wait until you lose mental capacity, it’s often too late to create one.

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4. What happens if I don’t have an LPA?

Without an LPA, decisions about your finances and medical care may be made by people you wouldn’t have chosen, and the process can be lengthy and costly through the Court of Protection.

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5. Can I choose more than one attorney?

Yes, you can appoint multiple attorneys and specify whether they act jointly or independently.

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6. How do I set up a Lasting Power of Attorney?

You can set up an LPA through a legal professional or by visiting Nene Legal for expert guidance. Call 01933 588 990 for assistance.

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Get Expert Help Today

For more information on Lasting Power of Attorney, visit Nene Legal or call us on 01933 588 990.

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