{"id":436669,"date":"2025-09-19T18:18:13","date_gmt":"2025-09-19T18:18:13","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/436669\/"},"modified":"2025-09-19T18:18:13","modified_gmt":"2025-09-19T18:18:13","slug":"martin-lewis-says-uk-households-need-82-document-more-important-than-a-will","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/436669\/","title":{"rendered":"Martin Lewis says UK households need \u00a382 document ‘more important than a will’"},"content":{"rendered":"

Personal finance expert explained ‘it\u2019s worrying that far fewer people have them’<\/p>\n

11:43, 19 Sep 2025Updated 13:02, 19 Sep 2025<\/p>\n

\"MartinMartin Lewis said an \u00a382 document was one of the most important people can have(Image: ITV)<\/p>\n

Money Saving Expert founder Martin Lewis has implored listeners to pay \u00a382 for a document \u2018more important than a will. The personal finance expert said he himself has had one in place since his 30s, and added \u2018it\u2019s a really important thing to think about.\u2019<\/p>\n

Speaking on his BBC podcast yesterday<\/a>, Mr Lewis said getting Power of Attourney was vital. A lasting power of attorney (LPA) is a legal document that lets you, the \u2018donor\u2019, appoint one or more people, known as \u2018attorneys\u2019, to help you make decisions or to make decisions on your behalf.<\/p>\n

It exists to give families more control over what happens to a person if they have an accident or an illness and cannot make their own decisions – they might \u2018lack mental capacity\u2019. Currently it costs \u00a382 – but it will be going up on November 17 to \u00a392, the government has warned.<\/p>\n

Mr Lewis said: \u201cWills are really important, but in my view, a power of attorney is even more so, which is why it\u2019s worrying that far fewer people have them. Best is to have both. But when you\u2019re dead, you\u2019re dead, it\u2019s just a question of where your assets go.<\/p>\n

\u201cBut without a power of attorney, if you lose mental capacity, all your assets can be locked away with your loved ones unable to access them to pay for, say, your mortgage or even to pay for your care. What they then have to do is go through the nightmare of going to the court of protection that can take months or years is extremely stressful and costs a lot of money.<\/p>\n

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\u201cSo having a lasting power of attorney set up in advance where you\u2019ve nominated trusted people to look after your finances if and only if you lose capacity so they can help you out, is crucial. Now you might just be thinking, yeah, that\u2019s good for the elderly. No, I\u2019m 53, I know, I look younger. But I\u2019ve had one in place since my 30s. In my view, this is crucial peace of mind protection. If you haven\u2019t got one, I know it\u2019s a grown up thing to think about, but it\u2019s also a really important thing to think about.\u201d<\/p>\n

There are 2 types of LPA:<\/p>\n