Under the new Court fees estates valued between £50,000 and £300,000 would have to pay £300 but this escalates to £1,000 for estates valued between £300,000 and £500,000 and then £4,000 for those between £500,000 and £1m. Rising to £20,000 for the largest estates. This is a big increase from the current solicitor’s application fee rate of £155 for all estates. The fees don’t come in until the spring so if you would like help getting a grant of representation before they come in then please contact our experienced probate team as soon as possible.
This fee increase will strengthen the need for professional support for executors needing to obtain a grant of probate to ensure that the estate is accurately valued before submitting the application and to signpost sources of funding. These fees coupled with inheritance tax considerations also heighten the need for effective lifetime estate planning. For more information about obtaining probate or wills and lifetime planning please contact Robert Swinburne or David Major.