The financial document Martin Lewis believes is ‘more important than a will’

• Money Saving Expert founder Martin Lewis has urged people to pay for a lasting power of attorney (LPA), describing the document as “more important than a will”.
• Power of attorney exists to give families control over what happens to someone if they suffer an accident or an illness and are unable to make their own decisions.
• Speaking on his BBC podcast, Mr Lewis said: "If you lose mental capacity, don't assume relatives can access your bank, your insurance, and a whole host of other things. And that can literally mean the money you need to pay for your care is locked away and inaccessible.”
• He added: “Losing faculties doesn't just happen to the elderly. Some people have severe strokes, they have accidents, they have early dementia. I've had a power of attorney in place since my 30s."
• Registering for LPA costs £92 in England and Wales, £96 in Scotland, and £180 in Northern Ireland.

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Martin Lewis urges people to sign £92 document ‘more important than a will’