Power of Attorney
Enduring Power of Attorney (EPA)
An EPA is a document created before 1st October 2007 where an individual appoints one or more people to deal with their financial affairs. EPAs can either be drafted on the basis that they're effective immediately or to take effect only on mental incapacity.
It's no longer possible to make a new EPA, but those created before 1st October 2007 can still be valid.
Lasting Power of Attorney (LPA)
LPAs replaced EPAs and also allow an individual to appoint people to deal with their affairs. However, there are two types of LPA. One for financial affairs and one for health & personal welfare. You can make one or both types.
An LPA must be registered (ie activated) by the Court before it can be used.