Price drop - powers of attorney !
Posted: 17th May 2017
Powers of attorney just got cheaper!
Whilst not unprecedented, it’s unusual to see a fall in prices in most sectors including legal services. There are too many upward pressures, largely beyond the lawyers’ control.
A prime example in recent years has been court fees with the introduction of fees in employment tribunals and some other civil court fees rising by over 600% in March 2015! Last month we reported on a welcome reprieve for probate court fees which were set in some cases to rise by a multiple of 129!
It’s a breath of fresh air amidst all of this to be told that anything has gone down in price but that’s exactly what happened last month to the fees payable for registration with the Office of the Public Guardian (OPG) of a lasting power of attorney.
Previously these were set at a level of £110 per LPA but have now been reduced to £82 – a saving of more than 25%.
Michael Williamson says, “This is actually worth having. We very often receive instructions from couples to prepare and register both types of LPA for each of them, so four in total. Usually, clients ask us to make the application to the OPG for registration at the same time and that has been working out at £440 on top of the legal costs.
This change means a reduction in that element of the cost of £112 and – for once – it’s significant. Our charges are unchanged but have remained competitive throughout the time that we've been dealing with this type of work”
It is no coincidence that appointing attorneys to look after your financial affairs as well as health and welfare matters is seen as something of increasing importance by the government, hence the discount on OPG fees. You are well advised to do it and, as with wills, it’s a project that is best tackled sooner rather than later.