It is easy to confuse the roles of a will and a lasting power of attorney, or LPA, but they serve different purposes, so you cannot use one as a substitute for another.
What is an LPA?
There are two types of LPA. One gives someone the authority to handle your financial affairs, such as bank accounts, mortgage, pensions and other benefits, whilst the other gives someone control over your health and welfare, such as if you go into a care home. The LPA becomes active if you are mentally incapacitated, such as after a brain injury. Power Of Attorney Online, found at https://powerofattorneyonline.co.uk, is one place where you can find advice about LPAs.
Why is an LPA important if you have a will?
A will is specifically about what happens to your estate when you die. You decide who will inherit your property when you are no longer here. An LPA is important whilst you are still alive. Your financial LPA will ensure you receive any monies you are owed, that your debts are paid, and that your belongings will still be available to be inherited. The medical LPA will decide if and when you receive medical treatment. Without LPAs, there is a complex and expensive court process to decide who looks after your interests.
Both a will and an LPA are important legal documents, but they are not the same. Make plans whilst you are alive and healthy to ensure that your wishes are respected if you die or are mentally incapacitated.