Martin Lewis on LPA Planning

21st February 2025

Updated: Monday 6th April 2026

Martin Lewis on LPA Planning has been urging people of all ages for years to make a lasting power of attorney a core part of their financial planning, not just something left until later life.

His reasoning is pretty simple. A will protects you after death. A lasting power of attorney protects you while you are still alive.

That distinction matters more than many people realise.

Why does Martin Lewis say an LPA can be more important than a will?

A will is important, but only takes effect once you have died.

A lasting power of attorney will kick in if you lose mental capacity during your lifetime.

It may be that you can’t make decisions because of illness, a severe stroke or an accident, but without an LPA nobody automatically has the right to step in to help you. Not your spouse. Not your adult children.

Without that registered LPA, your family must apply to the Court of Protection for their permission to act. That process can take months, plus comes with legal costs and ongoing supervision requirements.

This is why Martin Lewis has described a power of attorney as arguably more urgent than a will because it could fill the legal gap that exists while you are alive but are unable to act for yourself.

Isn’t a lasting power of attorney just only for older people?

No.

One of the biggest myths around LPAs is that they are only relevant for people in later life.

Loss of capacity can happen at any age.

Martin Lewis openly shares he arranged his own LPA in his thirties. Serious illness or unexpected injury can affect anyone at any age.

Planning early is not pessimistic. It’s the practical choice.

What decisions does a UK lasting power of attorney cover?

In England and Wales, there are two types of LPA:

• Property and Financial Affairs
• Health and Welfare

A property and financial affairs LPA allows your chosen attorney to manage bank accounts, pay bills, deal with pensions or even sell property if absolutely needed.

A health and welfare LPA allows decisions about care, medical treatment and living arrangements if you can’t decide for yourself.

Most people decide to get both and together, they provide comprehensive protection if you ever need it in the future.

What can happen if I don’t have an LPA?

If you lose mental capacity without a registered LPA, banks can restrict access to accounts.

Investments may be frozen.

Care decisions can be delayed.

Family members may disagree about what should happen next because they don’t know what your true wishes are.

Applying to the Court of Protection for deputyship is possible, but it’s undoubtedly slower and more expensive than putting an LPA in place in the first place, which is sadly something many families only discover this when they’re already under pressure if someone has lost mental capacity.

Why should an LPA be part of your financial planning?

Financial planning is not just about savings, investments and pensions.

It’s also about maintaining control over your finances.

A lasting power of attorney arranged through a service like Power of Attorney Online ensures that someone you trust can step in quickly and legally if you cannot manage your affairs.

This protects your assets and wishes, but, most importantly, protects your family from unnecessary stress and uncertainty should the time come where you can’t make decisions anymore.

When is the right time to set up a lasting power of attorney?

The right time is while you are well and fully capable of making your own decisions, because you can’t create a valid LPA once your mental capacity has been lost.

That’s primarily why acting early matters.

If you’re the type of person who reviews your finances, updates your will or sets goals for the year ahead, an LPA should be part of that conversation.

It’s not really about expecting the worst, it’s about being prepared for life as it really is.