Change in probate fees – due April 2019

Changes announced by the Government in relation to changes for Probate fees will shortly be coming into effect.

Currently fees for Probate applications are set at a flat rate of £215, or £155 when applied for through a solicitor. However, the Government announced late last year that it would be introducing a tiered system of fees linked to the value of the deceased’s estate. Probate fees currently apply to estates worth at least £5,000, under the new scheme they will only be payable for estates worth over £50,000.

Whilst an exact date for these changes has yet to be announced, it is expected to come into effect in April this year.

New probate fees structure

Estate Value Probate fee       
Under £50,000 £0
£50,000 – £300,000 £250
£300,000 – £500,000 £750
£500,000 – £1,000,000 £2,500
£1,000,000 – £1,600,000 £4,000
£1,600,000 – £2,000,000 £5,000
Over £2,000,000 £6,000

According to estimates*, 1 in 5 families who pay fees will need to pay at least £2,500.

If you have any questions on probate or need legal advice, please contact our private client team for an initial conversation on 01803 403403 or completing our contact form.

 

 

*Source: Saga.co.uk

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