Personal finance expert said the relatively cheap legal power is arguably 'more important than a will'
Personal finance guru Martin Lewis has said everyone needs to get one document sorted out in 2025 - before all others. Appearing on This Morning, Mr Lewis said he did it for himself at the age of 35 and it was even more important than a will.
“The power of attorney is arguably more important than a will. We’ve talked on the show before about power of attorney. If you have the power of attorney in place, that is what allows someone to. Take control of your finances when they lose their faculties, if and when they lose their faculties. If someone starts to lose their faculties and they don’t have one in place, then you’re going to have to apply at the court of protection, which is long, arduous and costly.
“If it’s beyond the point where she is no longer capable of making the decision to do that, then it will be the court of protection. And being blunt, it will be expensive and timely and difficult, and I’m sorry, which is why if you’re watching, I got my power of attorney at 35, right? I don’t care how old you are, it’s not just about dementia, it’s strokes and it’s accidents, severe strokes, I should say, and it’s accidents and other things.
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