Lasting Power of Attorney (LPA)
A Lasting Power of Attorney (LPA) is a legal document, granting a close friend or family member the power to make decisions on your behalf should you be unable to do so.
There are two types of LPAs, one of which covers your assets, and the other makes provision for your health. An LPA only costs around £100 to set up, and prevents a potentially lengthy legal process to determine who should manage your affairs should you become mentally capacitated. LPAs can be drawn up or removed as you wish, and become void on the event of your death, at which point your Will would activate.
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