Personal finance expert Martin Lewis has urged people to register warning that without one families could face a nightmare scenario
07:45, 05 May 2026Updated 07:46, 05 May 2026
Martin Lewis encouraged people to sign up for power of attourney ‘now'(Image: ITV)
Personal finance expert Martin Lewis has urged people to register for a document costing £92 which he describes as ‘more important than a will’ – with a special opportunity available today (April 22). During an appearance on This Morning with presenters Ben Shephard and Cat Deeley, he warned that failing to act could leave individuals facing a devastating situation.
A Lasting Power of Attorney is a legal document enabling someone to designate trusted individuals to make decisions regarding their property, financial matters, or health and welfare on their behalf. Mr Lewis highlighted how delaying this process can create enormous difficulties for relatives if someone’s health declines – revealing he had arranged his own while still in his 30s.
He explained: “So to simplify this, most people worry about their will and having a will and quite right a will is important. But I would argue that a lasting power of attorney is more important. than a will. A will dictates what happens to your assets when you die. A power of attorney dictates who can look after your finances and your assets if you’re alive but lose capacity.”
He continued: “And this happens to many more people than they think. And lots of people say, ‘Oh, it doesn’t matter. We’ll deal if in the in the event’, you know, whether it’s Alzheimer’s or a severe stroke or an accident or anything else or dementia that takes away your capacity, the idea that someone else can simply take over your finances and your health and welfare decisions is not true.” Power of Attorney Day
On Wednesday 22 April 2026, Carers UK and Standard Life will launch the inaugural UK-wide Power of Attorney Day. This nationwide initiative encourages all adults to prepare for the future by establishing a Power of Attorney (POA). The campaign seeks to dispel widespread misconceptions, simplify the procedure, and demonstrate how POAs safeguard individuals’ preferences.
The initiative also draws attention to the obstacles unpaid carers may encounter when attempting to handle their relatives’ matters without a POA already established. For further details, click here.
Mr Lewis explained: “You have to go to the court of protection. It’s costly. It’s difficult. It’s expensive. It’s incredibly stressful for the people that are doing it. And it is a it’s really difficult. The alternative is you put a power of attorney in place. And you put a power of attorney in place and that gives somebody else the ability to take over your financial decisions and the health and welfare decisions.”
Health considerations lie at the core of this decision – and Mr Lewis outlined his reasoning: “In the event that you lose capacity it it is not that they can take over now. You don’t have to do it. So, I’ve had one in place since I was in my 30s. I have no foreseeability of losing my capacity that I’m aware of, but I have one in place in the event that someone needs to take over.” Explaining the decision-making process, he said: “Do you have a power of attorney? If you don’t, what would happen to your assets and the decisions? Who would be able to look after you in the event that you lost your capacity? And don’t simply assume that someone could go and get access to your bank account. It is easy to do. It’s simple. The best way is to get a solicitor, but if you can’t, there are there are halfway schemes or you can do it yourself in England and Wales. It costs £92 to register in England and Wales per power of attorney. So is the financial one and the health and well. It’s worth a look.”
There are 2 types of LPA:
- health and welfare
- property and financial affairs
Health and welfare lasting power of attorney
Use this LPA to give an attorney the power to make decisions about things like:
- your daily routine, for example washing, dressing, eating
- medical care
- moving into a care home
- life-sustaining treatment
Property and financial affairs lasting power of attorney
Use this LPA to give an attorney the power to make decisions about money and property for you, for example:
- managing a bank or building society account
- paying bills
- collecting benefits or a pension
- selling your home
For more information Power of Attourney visit the government website here.