The Ministry of Justice has announced that the legislation for a new, banded structure of probate fees had been presented before Parliament.
Assuming the legislation is passed:
• The current fee of between £155 and £215 could increase on a sliding scale based on the value of the deceased’s estate, starting from £250 and could reach up to £6,000.
• Estates (homes and savings) worth between £300,001 and £500,000 would be likely to incur a fee of £1,000 whilst larger estates would see even higher fees – although any Estate worth more than £2 million would have the fee capped at £6,000, an increase of around 3,000%.
The probate fee changes are predicted to launch in April 2019. As always, we will keep you updated on the latest developments.
For advice on how to avoid probate fees call us now on 01299 251442.