Why Lasting Powers of Attorney are ‘particularly vital in avoiding a catastrophic scenario

When Financial Expert, Martin Lewis was asked, "Martin, if you had to prioritise, which would you sort first: Will/ Power of Attorney, or pensions/tax/inheritance? And why?", Martin responded saying Lasting Powers of Attorneys, because they are particularly vital in avoiding a catastrophic scenario.”

Martin went on to say, “Power of Attorney says if I were to lose my faculties, then I will nominate other people who can look after my finances and my health and wellbeing for me. I've had a Power of Attorney for 15 years even though I've got no foreseeability of losing my faculties."

He continued: "If you don't have a Power of Attorney in place, and you were to have an accident tomorrow so you couldn't look after yourself with your faculties gone, or a severe stroke, and you're a young person-because people think it's only for old people, it's not-then it is frankly a nightmare to go through the process of someone else trying to take over your finances. Meanwhile, they may not be able to pay your mortgage for you, or pay for any treatments for you, or pay for anything you need.

Read the full article here - Daily Express

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