- Power of attorney allows someone to make financial decisions on your behalf
- Applications have soared, with 2.5m registered in England and Wales
- However, it emerged last year that thousands of people overpaid
Get money back: Hundreds of thousands of people who overpaid for power of attorney will find out how to claim a partial refund
Hundreds of thousands of people who overpaid for power of attorney will find out how to claim a partial refund tomorrow, Money Mail can reveal.
Power of attorney is a vital document that allows someone to make financial decisions on your behalf in old age or if you become unwell or have an accident.
Applications have soared in recent years, with 2.5 million registered in England and Wales in the past decade.
However, it emerged last year that thousands of people overpaid when registering their document.
The Ministry of Justice is only supposed to charge enough to cover the cost of providing the service, but the large number of applications meant it made a £89million surplus.
In April it cut the fee from £110 to £82 and promised to give a partial refund to anyone who applied between April 1, 2013 and March 31, 2017.
How much you can claim depends on when you applied, but it is expected to be £28 (the difference between the old and new fees).
Karon Walton, chief legal officer of Solicitors for the Elderly, says: ‘We are delighted, but refunding thousands who have been overcharged over a four-year period won’t be easy – especially if a client has moved, lost capacity or passed away.’
The Ministry of Justice did not comment last night.
THIS IS MONEY’S FIVE OF THE BEST SAVINGS DEALS