Following the approval of the Grant of Probate Fee increase by a House of Commons Committee on 7th February, the vote will now be placed before the House of Commons where it is likely to be passed. A date has not yet been set for this vote, but if accepted, the proposed changes are due to come into place from April 2019.
The new proposed fees are as follows:
|Value of Estate||Fee (£155/£215)|
|Less than £50,000||No fee|
|From £50,000 to £300,000||£250 (increase of £95/£35)|
|From £300,000 to £500,000||£750 (increase of £595/£535)|
|From £500,000 to £1m||£2,500 (increase of £2,345/£2,285)|
|From £1m to £1.6m||£4,000 (increase of £3,845/£3,785)|
|From £1.6m to £2m||£5,000 (increase of £4,845/£4,785)|
|From £2m over||£6,000 (increase of £5.845/5,785)|
The proposed new fees will replace the current flat rate fee of £155 if applying for a Grant of Probate through a solicitor, or £215 if making a personal application.
The significant fee increase has been widely criticised with many arguing that the cost to the courts for granting probate does not change regardless of whether the estate is worth £50,000 or £2 million. It is believed that 80% of estates will fall into the £300,000-£500,000 bracket, which with a fee increase of £535 many regard as being unfair as there is no other option in many cases but to obtain a grant.
If you have concerns about the proposed increase, or would like further information regarding a grant of probate, please telephone our Private Client Department on 01245 228127.
This is not legal advice; it is intended to provide information of general interest about current legal issues.