There are now only five days left in which to make an enduring power of attorney before the law changes on 1 October and the more expensive and complex lasting power of attorney takes effect.
Solicitors are working flat out as friends and relatives of the elderly rush to put in place an enduring power of attorney which is a fairly simple process.
You can make an Enduring Power of Attorney for around £30 but the cost of setting up and registering an LPA after 1st October could easily reach £1,000. The simpler and cheaper EPA will still be effective after 1 October, if drawn up before, but no new EPAs will be possible after that date.
For further information on how to make an Enduring Power of Attorney BEFORE the deadline visit www.enduring-power-of-attorney.netMake an Enduring Power of Attorney Online in Minutes
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The new lasting power of attorney has now been in place for some months and although it is a much more comprehensive document, offering much better protection to the donor both the process for getting it and the cost seems to have decreased the number of people actually taking this document. Surely this cannot be a positive thing.
We use to include free enduring powers with all wills we wrote, but now have to make a charge. I try to keep my companies charge to a minimum as I know the importance of these documents as my own father suffer from Alzheimer’s, but even this means each documents is costing around £125, many solicitors are currently quoting £400 - £500 per document plus vat. This level of cost is going to decrease the number of lasting powers issued and have the exact opposite effect, meaning many people are left with the courts appointing attorneys for them rather than making this essential decision themselves in advance.
www.gb-legal.com
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