By Ben Hurst,Kelly Ashmore

Copyright birminghammail

Martin Lewis said he believes an £82 document was ‘even more important than a will’ and it was ‘worrying’ that fewer people had one. The Money Saving Expert founder has urged people to think about securing a Power of Attorney. During his latest BBC Sounds podcast , the personal finance guru revealed he’s had one sorted since his thirties. READ MORE: Martin Lewis says ‘legal bribe’ can help secure free £200 before Christmas The Mirror reports that a lasting power of attorney (LPA) is a legal document that lets you – the ‘donor’ – appoint one or more people – known as ‘attorneys’ – to help you make decisions or to make decisions on your behalf. An LPA is designed to hand families greater authority over what unfolds if someone suffers an accident or illness which means they can no longer make their own choices due to a ‘lack of mental capacity’. The current fee stands at £82, however the government has said this will rise to £92 from November 17. Mr Lewis said: “Wills are really important, but in my view, a power of attorney is even more so, which is why it’s worrying that far fewer people have them. “Best is to have both. But when you’re dead, you’re dead, it’s just a question of where your assets go. “But without a power of attorney, if you lose mental capacity, all your assets can be locked away with your loved ones unable to access them to pay for, say, your mortgage or even to pay for your care. “What they then have to do is go through the nightmare of going to the court of protection that can take months or years is extremely stressful and costs a lot of money. “So having a lasting power of attorney set up in advance where you’ve nominated trusted people to look after your finances if and only if you lose capacity so they can help you out, is crucial.” He continued: “Now you might just be thinking, yeah, that’s good for the elderly. No, I’m 53, I know, I look younger. “But I’ve had one in place since my 30s. In my view, this is crucial peace of mind protection. “If you haven’t got one, I know it’s a grown up thing to think about, but it’s also a really important thing to think about.” There are two types of LPA – one is a health and welfare lasting power of attorney, which allows people to make decisions about daily routines, medical care, moving into a care home and life-sustaining treatment. The second is a property and financial affairs lasting power of attorney, which allows people to make decisions about managing a bank or building society account, paying bills, collecting benefits or a pension, and selling your home.