GOVERNMENT U-TURN ON PROBATE FEES RISE/REDUCTION IN LPA/EPA REGISTRATION FEES
We are pleased to report two pieces of good news for a change!
In a recent update, we outlined the Government’s proposed massive hike in Probate Registry fees, due to come into effect in May despite almost universal opposition.
We are delighted to report that the Government has now scrapped the planned increase claiming that there is now not enough time for the legislation to go through Parliament before the General Election in June. However, the Government has declined to say whether the proposed increases will be brought back if the Prime Minister is re-elected in June. Hopefully they will not!
In addition, the Office of the Public Guardian (OPG) has recently reduced its fee for registering Lasting Powers of Attorney (LPAs) and Enduring Powers of Attorney (EPAs). Before 1st April...
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...