Why You Should Have a Lasting Power of Attorney
- 11th May 2017
- Benjamin Jones
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Martin Lewis OBE is an award-winning television and radio presenter, newspaper columnist, author and founder of MoneySavingExpert.com – Britain’s leading money website.
Martin has recently published an article across regional news outlets. The article is focused on the importance of a Lasting Power of Attorney and why everyone should have one.
A Lasting Power of Attorney could be considered similar to an insurance policy. It allows you to nominate a trusted person to take control of your assets but only granting them access after you lose capacity or when you decide it’s appropriate for them to take control.
Martin reports that one person now develops dementia every three minutes and many others lose capacity through strokes, accidents and more.
Losing capacity without having a Lasting Power of Attorney means that access to your assets could become restricted. As a result, this could prohibit your family from being able to pay for your care. Martin stresses that in many ways, a Lasting Power of Attorney could be considered more important than a Will.
At Loosemores, we understand that putting your trust in someone to manage your affairs can be a daunting thought. Our specialists offer a one-to-one service, providing practical advice whilst guiding you through each step of the process.