The Office of the Public Guardian has admitted that fees charged for lasting powers of attorney have been too excessive in the past four years.
They revealed that fees charged were above that of the costs involved in processing an LPA application.
The error is said to be as a result of the growing number of LPAs that have been registered in recent times. A statement from the OPG said: “Increased volumes, coupled with greater efficiencies in processing applications, have resulted in fees being charged above the operational cost of delivering the service, without the Ministry of Justice having exercised the power provided by legislation to allow us to do this.”
The OPG has stated that an estimated £89 million will be paid to thousands of people who are eligible for a refund within the current financial year. The OPG has also stated that full details of the refund process will be provided in due course.
The decision comes as part of wider reforms that the OPG aim to bring about with the agency say they are “committed to taking such steps as are necessary to make sure that people are made aware of and receive, the refunds to which they are entitled”.
Adding: “‘We will be working closely with the Ministry of Justice and its new income strategy unit, which will oversee the standards and controls set for all income streams. We have also made a number of improvements to the way in which we forecast demand and associated costs, in order to enable us to base fee proposals on robust evidence and to ensure compliance with requirements set by HM Treasury.”
Since the announcement by the OPG the fees have been reduced down to £82 per LPA registered.
Here at Thorneycroft Solicitors, we have an expert team of Wills, Trust and Probate solicitors who specialise in advising on and providing Lasting Powers of Attorney. We provide you with a sensitive and sympathetic service and will guide you through the process from start to finish. Our team is led by a member of STEP (Society of Trust and Estate Practitioners) who can act as a professional Attorney if required.
If you’d like any more information about a lasting power of attorney or a will or would like to book an appointment for a preliminary consultation please call us on 0800 1979 345 or complete our simple online enquiry form by clicking here.
