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Huge Hike In Probate Fees Is Scrapped By Government

Huge Hike In Probate Fees Is Scrapped By Government

  • On October 16, 2019

 

PLANS to charge bereaved families up £6,000 to gain control over their loved one’s estate – known as probate – have been scrapped by the Government.

Applying for probate currently costs a flat rate of £215 regardless of the value of the estate, but this could have risen to up to £20,000 for the largest estates under the initial plans, or £6,000 under revised proposals.

However, both proposed tiered charging structures have been taken off the table after a wave of public anger.

Confirming the news, Justice Secretary Robert Buckland told the Daily Mail: “While fees are necessary to properly fund our world-leading courts system, they must be fair and proportionate.

‘We will withdraw these proposals and keep the current system while we take a closer look at these court fees as part of our annual wider review.”

Under the proposed changes probate for estates valued at £50,000 or less would have cost nothing – a better deal than that which exists now. Currently only estates valued at £5,000 or less are exempt.

But after that the new fees would have been levied leading many observers to accuse the Government of a hidden tax grab because the charges did not reflect the real administration costs.

 

We can help with all aspects of estate planning. Get in touch for Will writing services, Trusts, Lasting Powers of Attorney and Inheritance Tax mitigation. Please email contact@familyestateplanning.co.uk or call Andy on 07984 013533 for an informal chat.

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Family Estate Planning

Family Estate Planning Ltd provides solutions for people needing Powers of Attorney, Trusts, Inheritance Tax mitigation and general estate planning advice.

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