At the start of this month, the registration fees for lasting powers of attorney (LPA) and enduring powers of attorney (EPA) were reduced.

Effective 1st April 2017, the fee was reduced from £110 to £82. The fee for re submission was reduced from £55 to £41. 

According to the Office of the Public Guardian, more than two million LPAs have been registered since 2007. The numbers being registered are increasing each year.

As a result of this rising volume of applications, together with efficiencies in how they are being processed, the registration cost can be reduced to its lowest since LPAs were introduced in 2007.

Along with a will, a lasting power of attorney is one of the most important legal documents you can put in place; giving authority to a chosen individual or individuals to make decisions on your behalf should you lose mental capacity in the future.

With these new lower registration fees, there really is no excuse to get this aspect of your personal financial planning in order.