On Thursday 8 January 2026, GBCT members who are in the WhatsApp group were sent a poll asking, which of the following selection they would choose if they had to prioritise.
Of the majority of members who responded, 26 selected Pension/Tax/Inheritance.
While 15 selected Will/Lasting Power of Attorney (LPA).
While there is no right or wrong answer, here's some information which may help members make an informed choice about joining the forthcoming Lasting Power of Attorney/Advance Care Plan webinar on 20 January and the Wills/Funeral Planning webinar on 17 February
The following answer was given by Economist and Financial TV presenter Martin Lewis on The Martin Lewis Money Show Live, broadcast on Channel 4, 06/01/26.
His response was 'Power of Attorney'
Reason: 'If I were to lose my faculties, then I’ve nominated other people who can look out for my best interests - my finances, health and wellbeing' (Martin Lewis)
A LPA needs to be completed while the person it's for has mental capacity. If you don’t have a Lasting Power of Attorney in place and you had an accident tomorrow, were incapacitated, your faculties gone, or you suffered a severe stroke even as a young person (people think it’s only for old people, but it’s not), then it's frankly a nightmare for your loved ones/friends, to go through all the processes required to access your finances and abide by your wishes. The lack of a LPA will result in friends/family having to apply to the Court of Protection to be appointed as your 'deputy'. This can be a lengthy and costly process and the last thing you need at a time of emotional upheaval.
In the meantime, your friends/family may not be able to pay your mortgage, rent or bills. They won't be able to access your bank account unless they're a third party signatory or a joint account holder. Utility, internet providers and TV service providers, will often not speak to a friend/family member, unless there is a LPA.
Family/friends may not be able to pay for any medical treatments for you or have a say about your wishes, if incapacitated.
No Will - When someone dies without a will, their estate is divided up according to standard rules, known as intestacy law. As set out in the Inheritance and Trustees' Power Act 2014, the rules determine who inherits what, based on family connections. The rules don't take into account the closeness of your relationships, or who is most in need.
DoLS: Depravation of Liberty Safeguards - each hospital trust has a social services team, who can take over the care of you or your loved ones, by applying DoLS.
This is becoming more common. Social services can stop those who are incapacitated from being able to return home, if they don't have a LPA. With a LPA, Social Services has to speak to the Attorney/s named on the LPA. The right to discharge yourself or for your loved ones to do so on your behalf, is removed without a LPA. Social Services can also move you or your loved ones to a hospital miles away from home based on bed capacity or medical services. This happens a lot, especially when a patient is not fit to look after themselves at home or their relatives don't have the capacity to look after them.
When you're going through such an emotional event, the last thing you want to do is go to court to appeal this.
Access to Utility companies: Any credit with utility or TV companies and internet providers, over £100, will not be refunded to your loved ones unless a Will is submitted with a death certificate.
The above is not to scare you, but to get you to understand the importance of having a Lasting Power of Attorney (LPA), Advance Care Plan, Will and Funeral Planning. Once these are done, they are a form of insurance!
Signing up for both is not required. However, it may not be possible to run the same webinars at such a low cost in future.
The GBCT is covering the majority of the cost of these two invaluable webinars (see dates below).
Only 1 person has registered to-date. If members do not register for these webinars, then they will have to be cancelled, as these are interactive sessions.
Tuesday 20 January, 7-8:30pm: Lasting Power of Attorney & Advance Care Plan (deadline to register: Wednesday 14 January)
Tuesday 17 February, 7-8:30pm: Will and Funeral Planning (deadline to register: Tuesday 10 February)
The cost for each webinar is £25
The cost of registering a LPA is also FREE for some, depending on circumstances.
