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by April 12, 2017Published on
In the midst of all the talk about the increase in Probate application fees, the Office of the Public Guardian (‘the OPG’) has decided to go against the grain with the welcome result of reducing fees.
As of 1 April 2017, the OPG is reducing the registration fee for a Lasting Power of Attorney (‘LPA’) from £110 per document to £82 per document and the re-submission fee from £55 per document to £41 per document.
The OPG has seen a continually increasing growth in volume of LPA applications with over two million Attorneys now registered. As a result, the OPG is receiving more income through registration fees than the cost of providing the service. In setting the new fee levels, the OPG will be reviewing the level of fees on an annual basis.
This is welcome news as the benefits of LPAs are often underestimated. The Act provides a statutory framework in England and Wales to allow individuals the opportunity of making provision in advance of potentially becoming incapable of managing his/her financial and health affairs.
Having an LPA in place takes away the worry, strain and uncertainty of your family and/or friends (depending on who you appoint as your Attorneys) not having control in circumstances where you would like them to make decisions about your financial and health affairs. If you do not have an LPA in place and you lose mental capacity, no-one would have the legal authority to deal with your affairs. The only way to obtain the legal authority would be to apply to the Court of Protection to appoint a Deputy. All the stress, delay, inconvenience and expense of the Deputyship regime can be avoided by simply making an LPA.
It is best to have an LPA and not need it, than to need an LPA and not have it.
For more information, please call us on 0191 232 8451.
December 10, 2018
The December issue of our HR Law update is now available to download