Having recently learned that the Government is proceeding with its (unpopular) proposals to increase Probate application fees dramatically (for estates worth between £500,000 and £1 million, for example, the fee will rise from £155 to £4,000) we were surprised, but pleased, to learn that the same Government is proposing to reduce the fee for registering a Lasting Power of Attorney or an Enduring Power of Attorney from £110 to £82.
For couples, who would usually each have two Lasting Powers of Attorney (one to deal with property and financial affairs, the other health and welfare) the saving will be over £100.
We understand the reduction may come in as soon as 1st April 2017. In any event, we will wait to apply to register Lasting Powers of Attorney until the lower fees come in.
This change comes because with the higher fee the Office of the Public Guardian is collecting more in fees than it costs to run the registration service, which is not permitted. Clearly the Office of the Public Guardian is receiving more registrations than anticipated, as people recognise the important benefits of having a Lasting Power of Attorney in place.