Lasting Power of Attorney (LPA)
This document grants someone the power to act on your behalf if you are unable to do so. The appointed person is empowered to sign your name and be your fiduciary-meaning that he or she must act in your best financial interest at all times and in accordance with your wishes. It is usually used if you become mentally incapable. There are two types of LPA, a "Property and Affairs LPA", which enables the attorney to pay your bills, manage your investments and make key financial decisions, and a "Personal Welfare LPA", which covers medical and personal welfare issues.
