Probate application fees due to rise
As it currently stands, an application for a Grant of Probate is charged at a flat fee of £215 (or £155 if the application is made through a solicitor).
Estates may however find that they are set to be faced with much higher costs than originally anticipated. The framework for the Probate Court application fees is due to face significant change in the near future.
While the exact changes are not yet known it is expected that the new rules could be introduced as early as April 2019.
The new system would mean that applicants are charged a fee based on the total value of an estate.
While estates valued up to £50,000.00 will pay no fee under the new framework, all other estates will face an increase in costs.
Once the proposed new rules are introduced, estates valued from £50,000.00 up to £300,000.00 will pay £250.00 for the Probate application. While this increase is only £35.00, the next tier (estates of £300,000 to £500,000) will be required to pay an additional £535 (£750 in total), more than 15 times the cost of estates in the lower banding.
The top tier of estate values, for any estates worth more than £2million will, under the new rules, face a fee of £6,000.00 to submit the Probate application. This increase means that the beneficiaries of that estate will, collectively, receive £5,785 less than they would currently.
At Fiona Bruce LLP we can provide legal advice regarding the administration of estates and can assist with the application for the Grant of Probate. We can also assist you in your estate planning and will writing. To find out more, contact us today for further details.