It is difficult to comprehend that you would ever lose the ability to manage your own affairs, but mental and physical incapacity can happen to anyone at any time. In England and Wales, a Lasting Power of Attorney (LPA) is a legal document that allows you to appoint one or more people to make decisions on your behalf during your lifetime.
The people you appoint to manage your affairs are called the ‘attorneys’. A LPA is a completely separate legal document to your Will, although many people put them in place at the same time as getting their Will written as part of wanting to plan for the future. Some people may have the misconception that by making a LPA, you are giving away control – in fact, the opposite is true. By preparing in advance of vulnerability and incapacity, you are able to detail who you want to help you, how you want to be helped and when.