08 May 2014 #Commercial Real Estate
The government recently went ahead with its proposal to significantly increase the fee charged by probate registries for issuing grants and sealed copies of grants.
The changes came into effect on 22 April 2014 and fees have increased from £45 to £155. If sealed copies of the grant are required then an additional 50p is payable for each sealed copy.
On a more positive note, the fees charged by the Court of Protection for deputyship applications have been reduced significantly. Deputyship orders are required so that someone’s financial affairs can be dealt with if, as a result of accident or illness, they are unable to do so themselves. Previously the court fee had been set at £400, but this will now be reduced to £220. This reduction will be implemented later in the year.
A deputyship application is still however a very time consuming and costly process, where you ultimately have no say over who will be appointed to manage your property and financial affairs if you were to lose capacity. We therefore strongly recommend that clients take out Lasting Powers of Attorney whilst they have the capacity to do so. Entering into a Power of Attorney should not be left until the last minute, as a loss of capacity is not always a gradual process and can occur suddenly as a result of a stroke or an accident.
At Clarkslegal we are happy to guide you through the process of making a Lasting Power of Attorney from start to finish, making sure you are prepared for whatever lies ahead.