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News

Tue 19 Mar 2019

The Cost of Probate Just About to Soar: A Call for Action Before End of March 2019

The Cost of Probate Just About to Soar:  A Call for Action Before End of March 2019

When a loved one passes away, the personal representatives might need to apply for a ‘grant of probate’ or ‘letters of administration’ to enable the administration of the deceased’s estate.

A grant of probate/letters of administration gives the personal representatives the authority to carry out the wishes given in the will, close any bank account, deal with any property interested and administer the estate generally.

Unfortunately the cost of obtaining grant of probate/letters of administration looks set to increase very dramatically. With the proposals which are set to be introduced in April 2019 (date to be confirmed), it is estimated that the cost of obtaining a grant of probate/letters of administration will increase from a flat fee of £155 to £6,000 in certain circumstances.

This is not the first attempt by the government to increase the probate fee. Last year the government attempted to increase the probate fee to £20,000 in certain circumstances.

The below table shows the proposed revised probate court fees:

Value of estate (before inheritance tax)

Proposed Fee

Up to £50,000 or exempt from requiring a grant of probate

£0

£50,000 - £300,000

£250

£300,000 - £500,000

£750

£500,000 - £1m

£2,500

£1m - £1.6m

£4,000

£1.6m - £2m

£5,000

Above £2m

£6,000

HEALTH WARNING:
In light of the upcoming fee increase, we strongly recommend that anybody who has recently suffered bereavement considers applying for a grant of probate/letters of administration BEFORE THE END OF MARCH 2019.

Our team of solicitors would welcome the opportunity to review your situation and discuss your personal circumstances with you. For more information please contact: Geoffrey Ditz on 020 7644 7282, email gditz@jpclaw.co.uk or contact him on LinkedIn or Tyla Robins on 020 7644 7278, email trobins@jpclaw.co.uk or on LinkedIn.

This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice.

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