There are two types of Lasting Powers, one for your finances and one for your health and welfare. It is equally important to have both Lasting Powers. Remember that if you do lose mental capacity, you can no longer sign a contract to sell your home, and you cannot give or withhold consent to your medical treatment.
We charge £150 per Lasting Power of Attorney (LPA). If one person requires both types of Lasting Power (which is recommended), a discount of £20 will apply, provided that the LPAs are both prepared at the same time. In this case, the total for both LPAs would be £280. No VAT is payable on any of the charges or fees. Our charges include preparation of form LPA120 for the reduction or exemption of fees where appropriate.
Each LPA will need to be registered with the Court of Protection to make it valid. There is a registration fee of £82 per LPA unless you are either entitled to a reduction in the fee (£41.00 per LPA)(if your annual income is less than £12,000 before tax), or an exemption, where you pay no fee at all, if you are in receipt of one of the benefits listed below:
- Income Support
- Income-based Employment and Support Allowance
- Income-based Jobseeker’s Allowance
- Guaranteed Credit entitlement
- Housing Benefit
- Council Tax Reduction (albeit not the 25% single person discount)
- A combination of Working Tax Credit and at least one of the following:
– Child Tax Credit
– Disability element of Working Tax Credit
– Severe disability element of Working Tax Credit
Please note that the following are not included: Disability Living Allowance, Invalidity Benefit and Personal Independence Payment.
Supporting evidence and completion of form LPA120 is required for a reduction or exemption of the fees.
Contact us now if you have any further questions or would like to begin the application process.