Lasting Power of Attorney

SarahB16

I had always been under the impression putting a lasting power of attorney in place cost approximately £600 and required a solicitor.  However, it would appear one can do it themselves for £82:  

 Make, register or end a lasting power of attorney: Make a lasting power of attorney - GOV.UK (www.gov.uk)

My mum heard about the above (i.e. only costs £82) on the radio recently and would like me to have lasting power of attorney and I also think this is a very good idea too. 

I intend to follow the guidance in the link above but is there anything that I'm potentially overlooking that you think I need to consider please? 

Very grateful for your opinions and thoughts as always. 

double_dutchy

My parents did this for £82 but be aware there are two types:

Health and Welfare or
Property and Financial affairs

It costs £82 for each

Yorkie1

As I understand it, one of the most common reasons for failure of an LPA relates to people signing in an incorrect sequence. Make sure you follow those notes exactly.

mebu60

I found it straightforward enough, the guidance was clear and helpful. 

You will need access to a printer.

eskbanker

SarahB16 said:

I had always been under the impression putting a lasting power of attorney in place cost approximately £600 and required a solicitor.  However, it would appear one can do it themselves for £82:  

 Make, register or end a lasting power of attorney: Make a lasting power of attorney - GOV.UK (www.gov.uk)

My mum heard about the above (i.e. only costs £82) on the radio recently

The cost was reduced to £82 in 2017, although it was 'only' £110 before that (for DIY):

https://www.gov.uk/government/news/lasting-and-enduring-power-of-attorney-fees-are-changing

Brie

And if she is on certain benefits (or has a low income?) the cost is 50% less.  

SarahB16

Brie said:

And if she is on certain benefits (or has a low income?) the cost is 50% less.  

Yes, she does have a low income and receive certain benefits.  I presume to pay only 50% of the cost it is clear in the link above I just need to select that and I presume provide some form of evidence (letter, etc)?  

Cressida100

I've recently completed my POAs. You can dip in and out when creating them. I was a bit daunted by the language but took my time understanding the terms and managed it with no problems. If you start it and leave it for a  period of weeks you will get a reminder email from them.

elsien

I found printing it off and giving parent time to think about what to include, then talking it over worked well. 

Somebody

I DIY'ed for my parents and ourselves.  

One tip is to have then same date against every signature.  Another is that the 50% discount applies if the donor’s income before tax is less than £12,000 a year, known as a ‘50% remission’.

So an accompanying letter to the effect "I am applying as a donor for a Lasting Power of Attorney (LPA).  I am eligible to apply for a remission of 50% of the fee, based on my gross annual income being less than £12,000. I am being supported by my spouse, M Lewis, who is applying to register the LPA."

Also, pay for each LPA by cheque so you know they have started processing 'cos the cheque has cleared your bank account.

Fermion

We have done the DIY route a few times. We have mutual active LPoA. The only potential pitfall is not to tick the box that says "I only want the LPoA to take effect when I have lost mental capacity" if you tick this box the LPoA is pointless as it's inactive until a GP signs a mental capacity statement (which often they wont do until it's too late).

Once the LPOA is issued remember to create an online account with the OPG so you can transfer digital copies of the LPoA to financial institutions. Avoids having to get copies certified by a solicitor (at a cost)