How much does an LPA cost and how long does it take to put one in place?
19 February 2021 by Guest Author
A Lasting Power of Attorney (LPA) is a legal document by which one person authorises another to act on their behalf should they become unable, for example by reason of mental incapacity, to make those decisions themselves.
How much does an LPA cost?
There’s a compulsory cost of £82 to register a Power of Attorney in England and Wales (it’s £81 in Scotland, £151 in Northern Ireland). If you earn less than £12,000 a year though, you can provide evidence to have a reduced fee of £41. Those on certain benefits are exempt from fees.
It’s £82 each for the property and finance LPA and the health and welfare LPA, so if you get both, that’s £164.*
Above and beyond that, if you decide to use a Solicitor you’ll also have to pay legal fees, though it’s possible to set up a Power of Attorney on your own.
Why should I use a Solicitor to get an LPA?
For a number of reasons, it is recommended that you seek legal advice.
An LPA is a complex and important document and seeking advice from a qualified and experienced Solicitor who specialises in this area of law can ensure that your LPA is:
- appropriate for your needs;
- that you receive advice to ensure you fully understand the implications of your LPA;
- that the LPA is effective and appropriate for your needs;
- that the paperwork is completed correctly with no mistakes;
- that an appropriate attorney or attorneys are appointed to act on your behalf; and
- that your LPA is effectively registered with the Courts and valid and ready to be used if you become unable to manage your own affairs.
How long does it take to put an LPA in place?
Once you have submitted the necessary forms to the Office of the Public Guardian, registration for a Lasting Power of Attorney typically takes between eight and ten weeks, as long as there were no mistakes made in the application.
Our specialist Solicitors can help advise you on your needs and complete the paperwork on your behalf in a matter of a few days from conducting an initial consultation with you.
We will submit the application on your behalf and will confirm once the LPA has been registered.
An LPA can be critical in allowing someone to manage your day-to-day affairs if you are unable to.
Putting an LPA in place provides peace of mind to you and your family and ensures that your welfare and finances can continue to be managed even if you are incapacitated.
If you would like to know more about LPAs and how we can help you protect yourself and your loved ones, please get in touch with FJG’s Wills, Life Planning & Probate team, call 01206 700113, or email [email protected].
*Costs correct as at January 2021.
Credit – blog post written by Lauren Hancock.
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