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A will protects your beneficiaries' interests after you've died, but a Lasting Power of Attorney protects your own interests while you're still alive up to the point where you die. The moment you die, the power of attorney ceases and your will becomes relevant instead. There's no overlap.
It must be in writing, signed and should be notarized, and, at the time of the change, the principal must understand that s/he is appointing an agent to handle his or her affairs.
In order to make a power of attorney, you must be capable of making decisions for yourself. This is called having mental capacity see under heading, When does someone lack mental capacity? You can only make a power of attorney which allows someone else to do things that you have a right to do yourself.
It costs £82 to register an LPA unless you get a reduction or exemption. You can cancel your LPA if you no longer need it or want to make a new one.
How can you write your own LPA? You can write your own LPA, get it signed and witnessed before making the application to the Office of the Public Guardian, or you can do it online via the gov.uk website which requires you to set-up an account first.