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|
|£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|
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.ukBack to News