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power of attorney

March2012
Posts: 487 Forumite
my friend says that the power of attorney is costing her 50O pounds to add a family members name on it. is this normal?how much does it normally cost?
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Comments
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What type of power of attorney?
Who are they using to draft it/complete the work?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
North East Scotland.
Mother in Law planning for the future and went to Solicitor in 2012 with two Daughters and gave all details. The daughters will have the facility to make all her decisions from now but will be as and when it is required.
Total cost including registering it with the government registarar was under £250.
So £500 for a modification seems a touch expensive.0 -
That seems expensive as I just asked about getting one today on behalf of my mum when I was going into the solicitor to get a will drafted.
North East England - cost £500+VAT (plus £125+VAT court fees)for a new PoA. The solicitor did say they would 'do a bulk discount' if I did 3 at the same time i.e. one for me, my wife and my mum
So, £500 for a modification does seem expensive based on what I've been quoted for a new one from scratch.0 -
LPA's are expensive, generally cost more than wills with trusts. The cost should in theory be less for a small change on an existing LPA as less hours work (and even "fixed prices" from solicitors are often based on a max number of hours of work), but may still require court fees etc. Is this for 1 or 2 LPAs? Separate LPAs must be done for financial and health affairs, if it's desired that both areas are to be covered.
Ps. Not a legal professional, just been consulting one recently on this very subject (new rather than amendment).0 -
A property and affairs POA for someone who still has mental capacity is very very simple and can be done on line with a government Web site - no need for a solicitor.
If the donor no longer has capacity or you want the health and welfare POA it is harder to diy but still possible.0
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