Lasting power of attorney registrations have hit a record high – do you need one?

A lasting power of attorney can be used to appoint a loved one to help with important financial and medical decisions. We explain when you should consider getting support.

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(Image credit: Getty Images)

Record numbers of applications have been made for a lasting power of attorney to look after the financial affairs of a loved one.

Government data shows there were more than one million registrations of a lasting power of attorney (LPA) last year, the highest annual total on record and a 37% yearly increase.

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Marc Shoffman
Contributing editor

Marc Shoffman is an award-winning freelance journalist specialising in business, personal finance and property. His work has appeared in print and online publications ranging from FT Business to The Times, Mail on Sunday and the i newspaper. He also co-presents the In For A Penny financial planning podcast.