Television personality and finance expert Martin Lewis has suggested that a document called a Power of Attorney is something that every household should organise and sign to safeguard against any problems in the future. It costs £84 to file a Power of Attorney.

What Is a Power of Attorney?

A Power of Attorney is a relatively straightforward legal document which allows a person to nominate a trusted relative or friend to be their decision-maker in the event that they no longer have the capacity to make decisions for themselves. This might be due to issues such as dementia, accident or injury or mental ill health.

There are two types of Power of Attorney: one relates to Health and Welfare, while the other relates to Property and Finances. Many people choose to complete both documents to ensure all future decisions are covered.

Anyone wishing to organise and sign a Power of Attorney on behalf of an older relative can do so either by contacting a local solicitor or by completing a Power Of Attorney Online with support from a specialist such as https://powerofattorneyonline.co.uk/.

Once signed and filed, the document is legally binding, according to Gov.UK.

Why Does Martin Lewis Encourage This?

Martin’s keen to encourage UK householders to obtain a Power of Attorney to avoid problems that come up when a person is still alive but is struggling with the ability to make decisions. Of course, if this is the case, they may be unable to understand and make decisions relating to their own health – such as when care is needed or even if it may be time to move into a care home.

It doesn’t mean that your nominated attorneys will be able to make decisions on your behalf now, so you are not giving up your freedom. It simply means that if a person has gone through a capacity assessment and been deemed unable to make rational decisions, then their trusted representative can step in.