Once again, bereaved relatives dealing with the death of a loved one are faced with a proposed increase to Probate fees from April 2019. The fees are imposed by the Probate Registry and not by solicitors.
The fee for
obtaining a Grant of Probate at the present time is £155 but from April an
increase may occur if an estate is worth more than £50,000. This is up in
the air at the moment as the fees were supposed to change last year, but
bereaved families gained a last minute reprieve.
If the fees do
increase, then they will do so as follows:-
Value of Estate Fees
Between £50,001 and £300,000 £250.00
Between £300,001 and £500,000 £750.00
Between £500,001 and £1million £2,500.00
£1million to £1.6million £4,000.00
£1.6million to £2million £5,000.00
More than £2million £6,000.00
We are therefore encouraging clients to ensure that if a relative has passed away very recently then the Grant of Probate is applied for quickly before the fees increase. The average estate where there is a property and some cash assets and exceeds £500,000 will see a rise of £2,285.
Any solicitor will know that there is no extra work for the Probate Registry to issue a Grant of Probate, whether the estate is worth £50,000 or £1.5million; the extra work is for the Solicitor to undertake when completing inheritance tax forms. However, the Probate Registry are intending to charge a heck of a lot more for dealing with a larger estate!
The only saving grace is that if the estate is less than £50,000 then there will be no Probate fee at all!
Please contact one of our Professional Advisers for further information.
Published 6 February 2019
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