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08/03/2017
ENDURING POWER OF ATTORNEY PROBLEMS
By now, most people will be aware that Enduring Powers of Attorney (EPAs) were replaced by Property and Affairs Lasting Powers of Attorney (LPAs) in October 2007, but that any existing EPA executed before October 2007 remains valid (subject to the requirement for registration at the Office of the Public Guardian in the event of the Donor losing mental capacity).
EPAs and Property and Affairs LPAs are documents in which someone authorises someone else to deal with their property and affairs, usually in the event of their mental incapacity.
There are now an ever decreasing number of EPAs in circulation and their use is now becoming less and less common in light of the new Property and Affairs LPA regime. As a result, banks, building societies and other financial institutions are becoming less...
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06/03/2017
PROBATE FEES TO RISE SHARPLY FROM MAY
Despite almost total opposition from the Legal Profession, the Government has decided to press ahead with its proposed hike in Probate Registry fees.
At present, the fee for applications for Grants from the Probate Registry, regardless of the value of the Estate, are set at £155 when the Grant is applied for by a Solicitor and £215 when the Grant is applied for by an individual. Estates that require a Grant but which are worth less than £5,000 do not attract any fee at all.
From May 2017, the new fee structure will be as follows:
Value of Estate Proposed Fee
Up to £50,000 £Nil
£50,001 – £300,000 £300
£300,001 – £500,000 £1,000
£500,001 – £1,000,000 £4,000
£1,000,001...