Lasting Power of Attorney and Your Will: Understanding the Difference

<pMany people confuse Lasting Powers of Attorney LPAs with wills, or assume that having one means they don't need the other. In reality, these are two separate documents that serve different purposes—and most people need both as part of a comprehensive estate plan.</p <h2The Fundamental Difference</h2 <pThe key distinction is simple:</p <ul <li<strongA will</strong takes effect after you die—it determines who inherits your assets</li <li<strongAn LPA</strong takes effect while you're alive—it...