More Than issues EPA call
www.moneynews.co.uk > General finance > More Than issues EPA call
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More Than issues EPA call
Tue 18th Sep 2007
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On October 1st, the Enduring Power of Attorney (EPA) document will be replaced by the Lasting Power of Attorney (LPA) document.
Overall, the changes could cost the British public upwards of £7 billion, More Than has estimated.
The LPA is regarded as a much more cumbersome and expensive document, costing £350 to set up, as opposed to the EPA which cost approximately £110.
And a full 66 per cent of Britons are not even aware of the change in the law or what they must do.
Simon Logan, head of law at More Than, stated: "It's astonishing that not only the majority of the population don't have [an EPA], but so many people simply do not understand what it is.
"The changes also mean the process is going to be more time consuming and expensive and we are calling for people to register for the EPA before the October 1st."
More Than was launched in 2001.
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Related News : More Than |
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