Proposed increase in Probate fees

Proposed increase in Probate fees

Under current proposals the Probate application fees are set for a major overhaul from April 2019.  These are however not set in stone and no start date has been fixed.  We wait to see whether the proposals are approved and implemented.

 The Court fees for Probate are currently £155 if the application is made by a Solicitor and £215 if the application is made personally.

The proposed new Court fees are:

 

Value of estate (before inheritance tax)                                                                               Proposed Fee

Up to £50,000 or exempt from requiring a grant of probate                                                     £0

£50,000 – £300,000                                                                                                                 £250

£300,000 – £500,000                                                                                                               £750

£500,000 – £1 million                                                                                                              £2,500

£1 million – £1.6 million                                                                                                           £4,000

£1.6 million – £2 million                                                                                                           £5,000

Above £2 million                                                                                                                      £6,000

 

A very small number of estates will therefore benefit from the new fee structure however, the vast majority will need to pay the higher fees. 

Some organisations will release monies from deceased accounts to pay Court fees but not all are prepared to do this. 

You may think that on a larger estate higher Court fees are acceptable. However, if the deceased only owned a property – the executor may need to take out a loan to pay the fees before the Probate is available.

We await to hear the outcome to see if these changes are implemented.

If you any queries or questions about Wills & Probate matters then please contact Sarah Darby, Wills & Probate Executive on 02477 710024 or email sarah.darby@alsterskelley.com

 


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