The cost of preparing for the frailty of old age by nominating someone to have authority over your affairs looks set to at least treble.

Thousands of people make arrangements known as enduring powers of attorney which are designed to come into force should future ill health mean they are no longer able to make decisions for themselves. In these circumstances, the nominated person who is usually but not always a relative, would have the legal right to make decisions on the sufferer’s behalf about such things as money and property.

At present, a married couple could arrange these powers and make their wills at the same time for a relatively modest cost.

That looks set to change in October when the Mental Capacity Act introduces a new system to be known as Lasting Power of Attorney. They may sound similar but the new system will be more complicated and so more expensive.

The new lasting powers of attorney will also have to be registered at the Court of Protection which will push up the price even further.

However, one advantage of lasting powers of attorney is that people will also be able to nominate someone to make decisions about their future health care – even to the point of whether or not they should be given life-saving treatment.

That may appeal to some people while alarming others but at least they will have the choice.

People who like the idea of granting authority over their health care may prefer to wait until October when the new system is introduced, whereas those who only want to grant power of attorney over their business affairs might be better making arrangements now when the cost is much lower.