A Lasting Power of Attorney (LPA) and a Last Will and Testament are both legal documents related to decision-making and asset distribution, but they serve different purposes.

Lasting Power of Attorney (LPA)

.An LPA is a legal document that allows an individual (the donor) to appoint one or more people (attorneys) to make decisions on their behalf if they become unable to do so due to mental or physical incapacity. There are two main types of LPA:

Property and Financial Affairs LPA – Allows the attorney(s) to manage the donor’s finances, including bank accounts, property, and investments.

Health and Welfare LPA – Grants authority to make decisions about the donor’s medical treatment, living arrangements, and personal care.

An LPA is only valid during the donor’s lifetime and ceases to have effect upon their death.

Last Will and Testament

A Last Will and Testament is a legal document that outlines how a person’s assets and estate should be distributed after their death. It typically includes:

• The appointment of an executor (someone responsible for carrying out the will’s instructions).
• The distribution of money, property, and possessions to beneficiaries.
• Guardianship arrangements for minor children (if applicable).
• Funeral wishes and any specific instructions for handling the estate.

A will only takes effect after death, whereas an LPA is used while the person is still alive but unable to make decisions for themselves.

Both documents are crucial for ensuring that a person's wishes are respected, both during their lifetime and after their passing.