Fee reduction beneficial to those registering a lasting power of attorney
Wednesday 6th November 2013
Ashley Marshall, Wills and Probate solicitor at Marsden Rawsthorn urges people to consider making a lasting power of attorney (LPA) following the government’s decision to reduce the cost to register by approximately 15%.
The fee to register an LPA was previously £130. This has now been reduced to £110 due to changes in the management of the schemes, including the introduction of new technology and improved efficiency, according to the Ministry of Justice.
An LPA is a legal document that allows you to appoint someone, often a family member, to make decisions on your behalf if you become unable to do so yourself. This means they can manage your finances, as well as making decisions relating to your health and welfare, if there ever comes a time when you lack the mental capacity to do so independently.
Ashley Marshall said: “There are many benefits of making and subsequently registering an LPA, mainly the reassurance of knowing that the power to make decisions on your behalf will be with someone you trust. There are also cost implications to consider too, as it can be more expensive for family or someone else to try and gain the necessary power to look after the affairs of a loved one after their incapacity.
“It is relatively straight-forward to set up and register an LPA, and now that the cost has been reduced, there has never been a better time to do it.”
The new fees came into force on 1 October and will apply for registering both LPAs and the older enduring powers of attorney (EPA). There are still reductions and exemptions available for those in receipt of certain types of benefits or moderate income.
Marsden Rawsthorn offers a fixed fee for creating and registering an LPA. For more information, please contact Ashley on 01772 799600 or email firstname.lastname@example.org.
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