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Against much opposition, the Ministry of Justice has decided to continue with proposals to increase probate application fees.
Currently, a fixed fee of £215 is payable when personal representatives make a personal application or £155 when the application is made through a solicitor.
The new probate application fees are based on the value of the estate, as follows:
- No fee for estates worth up to £50,000
- £300 for estates worth more than £50,000 and up to £300,000
- £1,000 for estates worth more than £300,000 and up to £500,000
- £4,000 for estates worth more than £500,000 and up to £1 million
- £8,000 for estates worth more than £1m and up to £1.6 million
- £12,000 for estates worth more than £1.6m and up to £2 million
- £20,000 for estates worth more than £2 million
The Ministry of Justice argue that the new fee structure is a fairer system, as more than half of all estates will pay nothing. It is suggested that the increased fees will be used to fund the court service.
The changes are due to be introduced in May 2017, although no exact date has been given.
There continues to be much opposition to the changes and it remains to be seen whether the government will review the decision.
If you would like more information about the changes in probate fees, please contact a member of our team of Probate Specialists, Outi Hubbard, Sarah Ellis or Florence Ferguson on 0208 735 9770.