Government to raise Probate fees
The government is set to introduce a new tiered system of court charges for probate cases that will replace the current flat fee of £215 (or £155 through a Solicitor). The Ministry of Justice states that the increase is intended to ‘…protect access to justice by ensuring we have a properly funded and resourced courts system.’ The good news is that estates up to the value of £50,000 will not have to pay anything and that the fee scale has been capped at £6,000. The proposed fee scale can be found below.
£0 (estates worth £0 to £50,000)
£250 (estates worth £50,001 to £300,000)
£750 (estates worth £300,001 to £500,000)
£2,500 (estates worth £500,001 to £1,000,000)
£4,000 (estates worth £1,000,001 to £1,600,000)
£5,000 (estates worth £1,600,001 to £2,000,000)
£6,000 (estates worth more than £2,000,001)
While this proposed change is not due to be implemented until April 2019, you can start planning your estate now with a view to mitigate these fees when they are introduced. Contact Benson Williams for a free, no obligation consultation.