Cost of LPAs compared to cost of Wills

Spivved1987

We recently concluded our 2 separate and non-identical Wills with a High Street solicitor. It was not cheap, but I didn't consider it too expensive. I used a High St solicitor for the comfort factor of SRA regulation etc etc.

I have recently asked for a quote for drawing up a full set of LPAs (Health and Finance x2) and was surprised to see the cost came in at over twice the cost of the Wills. I find this hard to understand. Is there any rationale behind such a big price differential? I would have thought that LPAs are generally less potentially complex than Wills.

Mark_d

https://www.which.co.uk/news/article/nearly-22000-lasting-powers-of-attorney-rejected-five-tips-to-ensure-you-register-one-that-works-a1COY2W2jILd

Spivved1987

Mark_d said:

https://www.which.co.uk/news/article/nearly-22000-lasting-powers-of-attorney-rejected-five-tips-to-ensure-you-register-one-that-works-a1COY2W2jILd

That is useful, thanks. I think my main concern in reading that article is the problem of attorney addresses. My children live quite peripatetic lifestyles, and like many youngsters today are (alas) in a permanent state of short-term rental. It would be outrageous if an LPA were to be rejected because my child's address is different on the day some officer at the OPG gets round to looking at it than what it was when they signed the LPA. Especially since I gather there are significant delays in the OPG finalising the process.

Brie

The article, while very helpful in some ways, is nearly 5 years old and was issued at the start of the covid crisis.  I don't know if the delays are still occurring but I would suppose they aren't now what they were then when lots of people couldn't go to work and also couldn't work at home due to inadequate equipment and IT.  

And the reasons for applications being rejected are more commonsense then anything else to me.  Illegible?  Of course it will be rejected.  Confusing, ill informed instructions or things not signed in the right order - yup, reject.  But the numbers rejected is quite minor compared to those accepted.  And the cost for a DIY POA is £82 each.  Not a really massive amount frankly compared to what a solicitor will charge.   

And if someone moves?  You simply have to inform the register. 

Have a look at the online forms and see if it still looks too complicated.  

elsien

Spivved1987 said:

Mark_d said:

https://www.which.co.uk/news/article/nearly-22000-lasting-powers-of-attorney-rejected-five-tips-to-ensure-you-register-one-that-works-a1COY2W2jILd

That is useful, thanks. I think my main concern in reading that article is the problem of attorney addresses. My children live quite peripatetic lifestyles, and like many youngsters today are (alas) in a permanent state of short-term rental. It would be outrageous if an LPA were to be rejected because my child's address is different on the day some officer at the OPG gets round to looking at it than what it was when they signed the LPA. Especially since I gather there are significant delays in the OPG finalising the process.

The OPG aren't going to know the address has changed in the interim. It's not something they check. Presuming your children set up redirects for their mail then I would send off the paperwork then by the time it is in place if they have moved update the addresses then. 
Make, register or end a lasting power of attorney: Changes you need to report - GOV.UK

MobileSaver

Spivved1987 said:

I have recently asked for a quote for drawing up a full set of LPAs (Health and Finance x2) and was surprised to see the cost came in at over twice the cost of the Wills.

Only a year or so ago, a friend did this and I too was very surprised that the solicitor in their case charged well over twice as much for the LPAs as they charged for the will.

I thought it was far too expensive and couldn't understand the justification but it wasn't my money or my place to poke my nose in.