Martin Lewis urges people to act on legal service 'more important than a will'Source: This Morning
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00:00If you're watching, I got my power of attorney at 35, right?
00:04I don't care how old you are, it's not just about dementia,
00:08it's strokes and it's accidents, severe strokes, I should say,
00:10and it's accidents and other things that stop us being able
00:13to look after both our financial and our health decisions.
00:16A power of attorney is arguably more important than a will.
00:19We've talked on the show before about power of attorney.
00:22You remember, Esme?
00:22You've talked to us personally about it as well, yeah.
00:25Power of attorney.
00:26If you have the power of attorney in place,
00:28that is what allows someone to take control of your finances
00:31when they lose their faculties,
00:33if and when they lose their faculties.
00:35If someone starts to lose their faculties
00:37and they don't have one in place,
00:39then you're going to have to apply
00:40at the court of protection,
00:42which is long, arduous, and costly.
00:44Now, from James's question, I'm sorry, James,
00:47I can't tell whether your mother is still in the stage
00:50where she would be able to sign over power of attorney now,
00:53where she still has enough faculties to be able to do so.
00:56If she can, you want to do that quickly,
00:58and it's going to have to be legitimate
00:59that she's in a position to do it.
01:01You'll want to get a power of attorney
01:03set up really quickly.
01:04If it's beyond the point where she is no longer capable
01:07of making the decision to do that,
01:09then it will be the court of protection.
01:11Being blunt, it will be expensive and timely and difficult,
01:15and I'm sorry, which is why, if you're watching,
01:19I got my power of attorney at 35, right?
01:22I don't care how old you are.
01:24It's not just about dementia.
01:26It's strokes and it's accidents, severe strokes,
01:28I should say, and it's accidents and other things.