New Probate Fees For May 2017

New Probate Fees for May 2017

Probate fees have been fixed fees, currently £155 if applying through a firm of solicitors or £215 if applied direct by the executors or family members.   From May 2017 this will change to a sliding scale of fees depending upon the value of the estate before inheritance tax, mirroring the Court’s increase of its fees for issuing all (litigious) applications.  This is in addition and unrelated to inheritance tax payable on estates over. 

 

The new fees will be as follows:

 

 

Value of estate

 

Proposed Fee

 

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

 

£0

£50,000 - £300,000

£300

£300,000 - £500,000

£1,000

£500,000 - £1m

£4,000

£1m - £1.6m

£8,000

£1.6m - £2m

£12,000

Above £2m

£20,000

 

 

On a positive side, the size of estate which is exempt of a fee is also being raised from £5,000 to £50,000 however in our experience most estates which contain a property in London are likely to attract a £4,000 fee at the very least. 

 

It is important to be aware of this new development when dealing with estate planning. If you require any assistance on this point or any other related matter, please contact our Private Client solicitor, Louisa Calligas on lcalligas@jsf-law.co.uk  

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