The Court cost of registering a new Lasting Power of Attorney (LPA) has been reduced from £110 to just £82 in recent weeks.
For those registering a repeat application, the cost has been reduced from £55 to £44, as of 1 April 2017.
The news comes at a time when proposals to increase probate Court fees from next month – which would have affected thousands of families – were recently shelved ahead of the snap General Election.
A Lasting Power of Attorney enables relatives, carers or close family members to handle the property and financial affairs of a loved one who is either no longer able to look after them themselves, or has lost the ‘mental capacity’ to do so.
Such a document can prove invaluable under certain circumstances, and can be set fairly quickly up by consulting a solicitor for specialist legal advice.
Despite this, recent studies suggest that around 85 per cent of UK adults do not have an LPA in place.
Earlier this year, numerous charities called upon members of the public to consider the importance of LPAs, after the Alzheimer’s Society predicted that the number of cases of dementia in the UK would increase by around 156 per cent by 2021.
The calls came on top of a survey carried out by the University of Plymouth which revealed a significant ‘lack of LPA awareness’ amongst its respondents.
Latest posts by Nigel Rowley (see all)
- Specialist legal advice crucial in relation to care home fees, trusts and IHT - January 19, 2018
- “Significant demand” for buy-to-let mortgages - January 15, 2018
- RBS shareholders propose overturning corporate governance in successive rebellion - January 12, 2018