Martin Lewis on LPA Planning: Why It Should Be Essential

21st February 2025

Updated: Thursday 26th February 2026

Martin Lewis on LPA Planning reflects a message that has been repeated clearly by one of the UK’s most trusted financial voices. Martin Lewis has urged people of all ages to make a lasting power of attorney a core part of their financial planning, not something left until later life.

His reasoning is 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 only takes effect once you have died.

A lasting power of attorney takes effect if you lose mental capacity during your lifetime.

If you cannot make decisions because of illness, a severe stroke or an accident, nobody automatically has the right to step in. Not your spouse. Not your adult children.

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

This is why Martin Lewis has described a power of attorney as arguably more urgent than a will.

It fills the legal gap that exists while you are alive but unable to act for yourself.

Is a lasting power of attorney 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 has openly shared that he arranged his own LPA in his thirties. His point was clear. Dementia is not the only risk. Serious illness or unexpected injury can affect anyone.

Planning early is not pessimistic. It is practical.

What decisions does a UK lasting power of attorney cover?

In England and Wales, there are two types of lasting power of attorney:

Property and Financial Affairs LPA
Health and Welfare LPA

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

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

Together, they provide comprehensive protection.

What happens if you do not 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.

Applying to the Court of Protection for deputyship is possible, but it is slower and often more expensive than putting an LPA in place in advance.

Many families only discover this when they are already under pressure.

Why should an LPA be part of financial planning?

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

It is also about control.

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.

It protects your assets.

It protects your wishes.

It also protects your family from unnecessary stress and uncertainty.

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.

You cannot create a valid LPA once mental capacity has been lost.

That is why acting early matters.

If you are reviewing your finances, updating your will or setting goals for the year ahead, it makes sense to include a lasting power of attorney in that conversation.

It is not about expecting the worst.

It is about being prepared for life as it really is.