The Ministry of Justice has now confirmed that the Government is pressing ahead with substantial increases in Probate Court fees.
This decision arises despite arguments against the move by The Society of Trust and Estate Practitioners, Solicitors for the Elderly and the majority of respondents to the Government consultation process.
The new fees are likely to take effect from May of this year and mean that for some estates, Probate Court fees are rising by over 12,900%.
Richard Ashton, Head of Trusts and Estates at Linder Myers, comments “The fee increases are disappointing and very worrying. They look like another tax on death, hitting families, particularly those involved in farming, very hard at what is a distressing time.
At Linder Myers we look after our clients and will endeavour where at all possible to get Probate applications lodged before the fee increases start to bite. We are also looking at strategies our clients can use to plan efficiently.”
There is currently a flat rate of £155 no matter how big the estate.
We outline the new structure below.
|New fee structure Value of estate (before Inheritance Tax)||Proposed Fee|
|Up to £50,000 or exempt from requiring a grant of probate||£0|
|Exceeds £50,000 but does not exceed £300,000||£300|
|Exceeds £300,000 but does not exceed £500,000||£1,000|
|Exceeds £500,000 but does not exceed £1M||£4,000|
|Exceeds £1M but does not exceed £1.6M||£8,000|
|Exceeds £1.6M but does not exceed £2M||£12,000|
For specialist advice and support regarding Probate applications before the new Court fees are implemented, please do not hesitate to Call Us on 0800 042 0700, or email us on firstname.lastname@example.orgFind out more about our Trusts & Estates department