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Today’s blog answers a question for Jake and is a follow up to the questions posed to me recently; in the first Lee asked why do I need a Lasting Power of Attorney? How much it costs depends on two things, how you decide to make the Lasting Power of Attorney and what application fee you will pay, I’ll cover both this blog.

How you decide to make a Lasting Power of Attorney

There are three options to consider in deciding how to make a Lasting Power of Attorney; a DIY approach, using a solicitor or using a Lasting Power of Attorney Consultant . It’s important to find out what each option includes and make a decision on what will work best for you.

When talking through different options some questions you might like to ask include:

· How much does it cost for one Lasting Power of Attorney?

· How much does it cost for two Lasting Power of Attorneys?

· How much does it cost for a couple (in total four Lasting Power of Attorneys)?

· Will VAT be added?

· Is a Certificate Provider included in the price?

· Do you offer liaison with the Office of the Public Guardian?

· Do you provide home visits?

· How much is an initial discussion?

· Do you provide a remote service?

· Does this include the Office of the Public Guardian fee to register the Lasting Power of Attorney?

· Do you provide help filling in the LPA120 form?

· Do you charge to complete the LPA120 form?

· Can you support with other elements of Advance Care Planning?

· Can you support with making an Advance Decision to Refuse Treatment too?

I’ll run through each of the options in more detail.

The Do It Yourself option to making a Lasting Power of Attorney

The DIY option means you will use the GOV.UK website to access the forms. You can do this either electronically or download and print the forms. I’d recommend the digital approach as it is quicker and easier to track the progress of the application. You will need to ensure all information is correct and within the legal boundaries and that the signatory process is completed in the correct order.

If you use the forms digitally they will still need printing for the signatory stage.

It will cost £82.00 to submit each Lasting Power of Attorney application (unless you are eligible for exemption or remission).

Completing forms on your own is the most cost-effective option, however many people are put off by the potentially lengthy forms and making sense of the choices available. Errors in the completing the forms, signing and rejection by the Office of the Public Guardian might be more likely to occur than with other options.

Using a solicitor to make a Lasting Power of Attorney

You can opt to use a solicitor to draft your Lasting Power of Attorney. Some people may do this at the same time as drafting a will with their solicitor. Each company will have their own process and they can be highly valuable in the case of a complex Business Lasting Power of Attorney for example.

Costs will depend on which solicitor you choose. Solicitors typically charge between £600.00 to £1,000.00 for a single Lasting Power of Attorney. There may be VAT added and potentially the Office of the Public Guardian fee too.

Using a Lasting Power of Attorney Consultant to make a Lasting Power of Attorney

The Lasting Power of Attorney Consultant approach involves engaging an independent consultant to draft the Lasting Power of Attorney. You will need to check out how the consultant works and what is included in the costs. Using an independent consultant can give peace of mind and an individualised service. It’s more expensive than the DIY approach but likely to be significantly less than a solicitor.

Costs will depend on which consultant you choose. I charge £135.00 for a single Lasting Power of Attorney, £255.00 for two Lasting Power of Attorneys and £500.00 for Couples saver (a total of four).

Lasting Power of Attorney Application Fee

I’ll now explain the Lasting Power of Attorney application fee. This is a set cost payable to the Office of the Public Guardian and depends on your income. Each Lasting Power of Attorney application will cost £82.00 but there exemptions and remissions available.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/977104/LPA120_LPA_and_EPA_fees_2021_1_.pdf

You will need to complete the LPA120 form and submit the appropriate evidence with your application.

Final thoughts

It’s not possible to give a one sentence answer to how much a Lasting Power of Attorney costs, but I hope this blog has provided key information you need to make the best choice for you. Making a Lasting Power of Attorney could cost £0.00 or £1,000.00 depending on how you do it and your circumstances.

If you want to find out more about how I work with clients and can draft your Lasting Power of Attorney, or if you just have a question you want answered contact me .