On the 3rd March episode of the The Martin Lewis Money Show Live, consumer expert Martin Lewis tackled a topic many people avoid: the uncomfortable but essential financial conversations around death, incapacity and planning ahead.
While it’s easy to put off thinking about Wills or Lasting Powers of Attorney, the message was clear — avoiding these discussions can (and do) have serious, real-life consequences for many families.
For wills and LPA specialists, this episode reinforced a crucial truth: planning ahead is not just about money — it’s about protecting your loved ones from stress, delay and uncertainty.
Why These Conversations Are So Often Avoided
Martin Lewis highlighted something we see daily: people simply don’t want to talk about:
- What happens when they die
- Who will manage their finances if they lose capacity
- Who will make medical decisions on their behalf
It’s uncomfortable, emotional and easy to put off. But as Lewis emphasised, doing nothing is often the worst option.
“An LPA Is Arguably More Important Than a Will”
One of the standout points from the programme was Lewis’s statement that:
A Lasting Power of Attorney can be “arguably more important than a will”
Why? Because a will only takes effect after death — but an LPA protects you while you are still alive.
Without an LPA:
- Your family cannot automatically access your bank accounts
- They cannot manage your finances
- They may struggle to make decisions about your care
Even more concerning, this applies even to spouses and joint accounts.
The Dangerous Assumption: “My Family Can Just Step In”
A common misconception addressed on the show is that loved ones can simply step in if something happens.
In reality:
- There is no automatic legal right for family members to act
- Banks may freeze accounts if capacity is lost
- Financial decisions can grind to a halt
Martin Lewis warned that without an LPA, even funds needed for mortgages, bills or care costs may become inaccessible.
Real-Life Warning: The Joint Account Trap
Case Study 1: The Frozen Finances
A married couple assumed their joint account would provide security if one became ill. When one partner lost mental capacity, the bank froze the account pending legal authority.
The result:
- The healthy partner couldn’t access funds
- Household bills went unpaid
- Financial stress escalated quickly
This situation is more common than many realise — and entirely avoidable with a registered LPA.
The Court of Protection: A Costly and Stressful Alternative
If no LPA is in place, families must apply to the Court of Protection to gain authority — a process repeatedly highlighted by Martin Lewis as problematic.
This route can be:
- Lengthy – often taking months or longer
- Expensive – with ongoing fees
- Intrusive – requiring regular reporting and oversight
Case Study 1: Kate Garraway (TV Presenter)
A serious illness can affect anyone at any time of their life. In a well-documented case, TV presenter Kate Garraway lost the ability to manage her husband Derek’s affairs while he was in a coma caused by COVID-19. As there were no Lasting Powers of Attorney in place, she faced serious financial issues due to not having the legal right to access his accounts or refinance their mortgage. Kate also didn’t have the legal right to access Derek’s medical notes due to data protection rules.
Case Study 2: Heather Bateman
Accidents can happen to anyone at any age. In a case shared by SAGA and the BBC, Heather Bateman lost the ability to manage her husband’s affairs after a serious road accident left him in a coma. As there weren’t any Lasting Powers of Attorney, Heather spent three years trying to get access to bills which were paid from her husband’s bank account. She had to apply to the Court of Protection to become his deputy, resulting in a very time-consuming, costly and distressing experience.
Whilst we can help take the stress out of Court of Protection applications and dealings, things are so much simpler if you have a lasting power of attorney in place.
Real-Life Warning: “It Happened Too Fast”
Case Study 2: Sudden Loss of Capacity
A family delayed setting up an LPA, assuming there was “plenty of time.” A rapid decline in health meant capacity was lost before documents were completed.
The result:
- No legal authority in place
- Immediate need to apply for deputyship
- Significant delays in accessing finances
As highlighted in guidance from MoneySavingExpert, once capacity is lost, it is too late to create an LPA.
Wills Still Matter — But They’re Only Part of the Picture
While LPAs were a key focus, Martin Lewis also reinforced the importance of having a valid, up-to-date will.
A will ensures:
- Your estate goes to the right people
- Your wishes are clearly documented
- Disputes between family members are minimised
However, Lewis also highlighted a lesser-known risk:
Some assets — such as pensions — may sit outside your will
Real-Life Warning: The “Outdated Wishes” Problem
Case Study 3: The Unintended Beneficiary
An individual separated from their partner but never updated their will or pension nominations.
The result:
- Assets passed to an ex-partner
- Family members left with no entitlement
- Legal disputes and emotional distress
This highlights the importance of regularly reviewing both wills and associated financial arrangements.
Two Types of LPA You Should Consider
Many people are unaware that there are two distinct types of LPA:
- Property and Financial Affairs LPA
- Manages money, bills, property and investments
- Health and Welfare LPA
- Covers medical treatment and care decisions
Without the latter, medical professionals may consult family — but they are not legally bound to follow their wishes.
Not Just for Later Life
A key message from Martin Lewis was that LPAs are not just for older people.
Unexpected events can happen at any age:
- Accidents
- Sudden illness
- Stroke or brain injury
In fact, Lewis himself arranged his LPA in his 30s, reinforcing the idea that this is about preparation, not age.
Why Acting Early Makes All the Difference
Setting up a will or LPA is not something that can be done in a crisis.
Key points to remember:
- LPAs must be made while you have mental capacity
- Registration can take weeks or months
- Errors can delay the process further
Planning ahead ensures:
- Your wishes are respected
- Your family can act immediately if needed
- Stress and uncertainty are minimised
Starting the Conversation
The hardest part is often simply starting.
Consider discussing:
- Who you trust to act on your behalf
- Your financial priorities
- Your preferences for care and treatment
These conversations may feel difficult, but they are ultimately an act of protection and care for those closest to you.
Final Thoughts
Martin Lewis’s message is clear: don’t wait until it’s too late.
- A will protects your legacy.
- An LPA protects your life while you’re still here.
Together, they form the foundation of effective estate and future planning — giving you control, clarity and peace of mind.
Specialist Legal Advice for Wills or LPAs
For absolute peace of mind, seeking advice from an experienced solicitor can provide you with specific legal advice and guidance to confidently navigate the process and ensure everything is in place for the future.
- Drafting or updating your will
- Setting up Lasting Powers of Attorney
- Reviewing existing arrangements
At SH&Co., both Lisa Kingston and I offer two FREE weekly Wills, LPAs, Trust & Probate drop-in clinics (no appointments needed) during which you can get more information on Wills and LPA options, pricing and/or inheritance tax. Alternatively, telephone appointments can be made by contacting the office on 01606 48777. We’re here to help you.
This article is for general information only and does not constitute legal advice. For advice tailored to your circumstances, please seek professional legal guidance.
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