Lasting power of Attorney

Mariolanza

Today, we registered to write our mirror Will.

We paid £30 for this.
They called us today to discuss Beneficiaries, Executors etc. so that they could put the Will together. 

Then we were offered the option of a living power of Attorney  the cost of which was £900 that could be paid in fractions  but they wanted an initial £210 today.

We were under pressure and paid over the telephone. 

Later, we Googled LPA and discovered the price of an LPA to be £82 registered. ??! Have we been conned or is £900 a fair price?

The credit card company won't cancel the payment as it was done over the phone so we will call tomorrow. 

What happens if they refuse to reimburse us?

elsien

Lasting power of attorney. Not living. 

The £82 is to register each individual one.  If you go via a solicitor then you are paying for their expertise. If you are looking at health/welfare and finances for both of you that’s £328. The rest is their fees. 

I’d be very surprised if the cost of your wills is only £30. Are you sure the £900 isn’t for the whole lot, wills and LPAs? For two people with wills and all LPA £900 isn’t extortionate, if it’s a properly advised service rather than an online portal. 

Either way you need to check what terms you agreed to and any cancellation policy. What’s the company? 

Mariolanza

The company is Legacy Wills. They advertised mirror wills for £29.99 which attracted us to the offer. Then, at the end of the telephone conversation,  they mentioned the lasting power of Attorney at £900. Covering welfare.

So, further to your comment, around £600 is to cover their fees.

So, perhaps we should leave it and pay up.

Thank you

elsien

Check their cancellation terms. Also check if the will cost is fixed - these companies usually  quote a low price with a caveat that if your estate is complex they will charge more. £30 will be their loss leader for very simple wills.
I’d also be wary of a company that used pressure upselling techniques. 

If you can cancel, get some other quotes from a proper solicitor. Check how full a service they offer - proper discussion? Decide if you want to DIY or not. 

At the moment you have no points of comparison. 

daveyjp

LPAs are very simple documents to complete DIY. It is even easier now it is all online as you can take your time, dip in and out, edit mistakes etc.

Fill the form, print out and have it signed.

FreeBear

elsien said: Check their cancellation terms. Also check if the will cost is fixed - these companies usually  quote a low price with a caveat that if your estate is complex they will charge more. £30 will be their loss leader for very simple wills.
I’d also be wary of a company that used pressure upselling techniques. 

If you can cancel, get some other quotes from a proper solicitor. Check how full a service they offer - proper discussion? Decide if you want to DIY or not. 

At the moment you have no points of comparison. 

These companies will want to act as executors, and charge obscene rates. But since you would be dead by then, there is little anyone can do.

Before you waste any more money, go find yourself a proper solicitor, preferably a STEP qualified one. It may well cost £300-400 to have them draw up a pair of mirror wills, but it will save in the long run - Think about who you want as executors, and try to avoid appointing paid professionals. If you appoint a friend/family as executor, they can use paid professionals if/when needed, and can kick butt if there are any problems.

Saving a few pounds now on a will could end up being very expensive for your estate.

TheCuriousSausage

I registered a LPA last year for £82 for my father in law. Unfortunately my brother in law (ex solicitor) had instructed a local solicitor to do it. All they did was print off the form so we took it over and filled in the necessary information online and then sent off the signed forms. We had to pay their £150 fee but I would strongly recommend you do it yourself. You are only completing a form and getting it witnessed - there is no expertise required and £900 is extortion.

elsien

TheCuriousSausage said:

I registered a LPA last year for £82 for my father in law. Unfortunately my brother in law (ex solicitor) had instructed a local solicitor to do it. All they did was print off the form so we took it over and filled in the necessary information online and then sent off the signed forms. We had to pay their £150 fee but I would strongly recommend you do it yourself. You are only completing a form and getting it witnessed - there is no expertise required and £900 is extortion.

That's not necessarily the case, it does depend on the circumstances.
My mother did hers herself with no issue. A sibling who has a business and complicated finances really needed a  solicitor as he needed two finance LPAs, one for personal and one for the business. That was something he didn't want to get wrong. 
I don't think people need to pay unneccessarily but it's wrong to say that there is no expertise needed for anyone. 

TheCuriousSausage

elsien said:

TheCuriousSausage said:

I registered a LPA last year for £82 for my father in law. Unfortunately my brother in law (ex solicitor) had instructed a local solicitor to do it. All they did was print off the form so we took it over and filled in the necessary information online and then sent off the signed forms. We had to pay their £150 fee but I would strongly recommend you do it yourself. You are only completing a form and getting it witnessed - there is no expertise required and £900 is extortion.

That's not necessarily the case, it does depend on the circumstances.
My mother did hers herself with no issue. A sibling who has a business and complicated finances really needed a  solicitor as he needed two finance LPAs, one for personal and one for the business. That was something he didn't want to get wrong. 
I don't think people need to pay unneccessarily but it's wrong to say that there is no expertise needed for anyone. 

Fair point. I was assuming it is a straightforward LPA