Martin Lewis: Why a Lasting Power of Attorney Is “More Important Than a Will”

Chris Watts, MSWW, CeMAP – Fern Wills & LPAs

Last verified: 16 August 2025 (England & Wales)

Quick-read summary

When Martin Lewis appeared on This Morning in January 2025, he called a Lasting Power of Attorney (LPA) “more important than a will.” He explained that illness, accidents, or strokes can strike at any age, and without an LPA, loved ones face the long, costly process of applying to the Court of Protection.

“Just get it done. You’ll never regret putting an LPA in place – but you may really regret not doing it.”
— Martin Lewis

The full video clip is available to watch on our As Seen on TV page.

Practical checklist

• LPAs are not just for the elderly – anyone can lose capacity unexpectedly.
• Two types cover different needs:
  • Property & Financial Affairs – money, property, investments, bills.
  • Health & Welfare – medical treatment, care decisions.
• Without an LPA, families often face months of delay and high legal costs.
• Setting one up early avoids stress at a time of crisis.

How this works in real life

1. Norma’s story – the cost of waiting

Norma shared that her mum had to become a Court of Protection deputy for her dad with dementia. She described it as “very long, drawn out and quite intrusive.” On top of the stress, her mum faced hefty annual fees. Norma’s regret was clear: “I just wish we’d managed to get Power of Attorney instead, when Dad was more capable.”

2. The accident that changed everything

A healthy man in his thirties was involved in a serious road accident, leaving him unable to manage his finances. His family discovered they couldn’t access his bank accounts or pay his bills. Months passed while they applied through the Court of Protection. An LPA would have avoided the ordeal, allowing his chosen attorney to act immediately.

3. A small business saved by forward planning

A local business owner had wisely set up both types of LPA. When she suffered a stroke, her appointed attorney quickly stepped in. Staff wages were paid on time, suppliers kept confidence, and her care decisions were made smoothly. Her foresight meant her business and wellbeing stayed protected at the most difficult moment.

FAQs

Isn’t an LPA just for older people?

No. Martin Lewis himself made one at 35. Capacity can be lost at any age.

Do I need both types of LPA?

Yes, for full protection: one covers finances, the other health and care.

How much does it cost?

The registration fee is £82 per LPA (reductions/exemptions may apply).

Can I make one without a solicitor?

Yes, but professional guidance helps avoid errors that may cause rejection.

What happens without an LPA?

Families must apply to the Court of Protection – an expensive, stressful and time-consuming process.

Optional Technical Notes (for those who want the detail…)

• Governed by the Mental Capacity Act 2005.
• Two types: Property & Financial Affairs LPA and Health & Welfare LPA.
• Applications made via the Office of the Public Guardian (OPG).
• Without an LPA, deputies are appointed by the Court of Protection – fees typically run into hundreds or thousands of pounds annually.

Sources & further reading:

• GOV.UK – Make, register or end a lasting power of attorney
• MoneySavingExpert – Power of Attorney guide
• Fern Wills & LPAs – As Seen on TV page

Next steps

Martin Lewis’s advice is clear: don’t put this off. Setting up an LPA gives you control and protects your family from unnecessary cost and stress.

Fern Wills & LPAs can guide you through the process simply and professionally. Contact us today to get started.