Spouses and mothers 'safest pairs of hands to protect finances'

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Spouses and mothers 'safest pairs of hands to protect finances'

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Spouses and mothers 'safest pairs of hands to protect finances'

//business-finance.news-articles.net/content/202 .. s-safest-pairs-of-hands-to-protect-finances.html

Published in Business and Finance on Monday, May 12th 2025 at 3:00 GMT by London Evening Standard
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Only one in 11 people speak to those they trust to sense-check requests, according to Take Five to Stop Fraud.

Orbitz

The article from the Evening Standard discusses a survey by St. James's Place, which found that among UK adults, spouses and mothers are considered the most trustworthy individuals to manage personal finances in the event of one's incapacitation. The survey revealed that 37% of respondents would entrust their finances to their spouse, while 17% would choose their mother. This preference highlights a significant level of trust in close family members over professional financial advisors, with only 11% opting for the latter. The article also touches on the importance of having a Lasting Power of Attorney (LPA) in place, as it legally allows a chosen person to make decisions on one's behalf if they become unable to do so themselves. Despite the trust in family, the survey indicates a general reluctance to discuss financial matters openly, with many not having formal arrangements like an LPA, which could lead to complications in managing finances during emergencies.

Read the Full London Evening Standard Article at:
[ https://www.standard.co.uk/business/money/spouses-and-mothers-safest-pairs-of-hands-to-protect-finances-b1227146.html ]