Proposals to link the cost of being granted probate over an estate valued at more than £5,000 (currently fixed at £215 for those applying individually or £155 if applying through a solicitor) to the value of the estate were announced in 2017 but were quickly dropped amidst a storm of protest.
That, however, was not the end of the matter, because the proposals have been brought back in modified form. Under the new plans, those with an estate worth less than £50,000 will have probate granted without charge, but a sliding scale of charges will apply where the estate exceeds that figure. Where the value of the estate exceeds £2 million, a fee of £6,000 will be payable.
Under the new arrangements, only one fifth of estates will be subject to a charge exceeding £750.
The new arrangements are set to be introduced in April 2019.
For advice on how to minimise the amount of your estate that passes to the state, not the heirs you choose, contact us on 0207 822 4000 or email firstname.lastname@example.org