To deal with a person’s estate it is usually necessary to obtain a Grant of Probate where the estate exceeds £50,000 in value and it may be required for smaller estates in some circumstances. The current fee payable to obtain the Grant of Probate is £155 if the application is made through a solicitor, or £215 if made personally.
The Government is proposing to increase the fee to obtain a Grant of Probate substantially for estates worth more than £50,000. The proposed new fees mean that an estate worth between £50,000 and £300,000 would pay £300, an estate worth between £300,000 and £500,000 would pay £1,000 and an estate worth between £500,000 and £1,000,000 would pay £4,000. The fees above that rise to a maximum of £20,000 for an estate worth more than £2,000,000. The work involved for the Court Service to process an application for a Grant of Probate is the same whatever the value of the estate.
At present the costs of running the Probate service are covered by the fees currently payable. However, the Government are proposing these fee increases so that they will raise additional revenue to cover the costs of running other Court services, so the Probate fees will subsidise those Court services.
The Government carried out a consultation exercise and the vast majority of responses opposed the proposed increased fees on the grounds that increases of that amount were unnecessary to fund the service provided and amounted to another form of taxation.
We believe that the proposed increases are unfair and could lead to hardship for people at a difficult time. If you agree please sign the petition to reconsider these proposals following the link below.
We need 100,000 signatures to get the proposals debated in Parliament. Otherwise they are almost certain to be approved.
- Will drafting
- Review of existing Wills
- Advice re provision for children, second families, spouses and civil partners, unmarried partners and other family members
- Advice re charitable gifts
- Advice re foreign and business assets
- Advice re Will trusts
- Inheritance Tax advice.
- Advice re Trust creation and ongoing management
- Preparation of trust deeds and other trust documentation
- Declarations of Trust
- Termination of trusts.
Probate and Administration of Estates
- Advice re the terms of the Will or intestacy rules where there is no Will
- Obtaining values for the various assets and liabilities in the estate, notifying the various institutions and obtaining all necessary estate information
- Obtaining a grant of probate or letters of administration as appropriate
- Dealing with and advice re Inheritance Tax, Capital Gains Tax and Income Tax, liaising with HMRC
- Notifying and liaising with the beneficiaries of the estate
- Preparing a deed of variation or a deed of disclaimer in relation to the estate
- Selling or transferring the various assets due to the beneficiaries
- Dealing with foreign assets and Wills
- Advice re estate disputes and claims against an estate
Senior Associate - Head of Wills Probate & Trusts
T: 023 9244 6912