LEVER LAW SOLICITORS : NEWS

Rise in Probate fees scrapped by the government

The government has reversed its decision to alter the charges incurred by bereaved families in settling their loved one’s estate, a change which would have led to some families facing a bill of £6000 when applying for probate.

The decision comes almost a year after the government had announced plans to scrap the universal flat rate of £215 (£155 if applying through a solicitor), replacing it with a sliding scale system that would have seen fees rise depending on the value of the estate.

THE proposals:

Whilst the government pitched the plan by highlighting that some estates would end up pay lower fees, it was greeted with widespread criticism and rejection. The proposed plans included abolishing fees for estates worth up to £50,000; but an increase from £215 to £250 for estates valued between £50,000 and £300,000. At the other end of the scale, it would have led to high-valued estates incurring a £6000 bill to apply for probate.

What does it mean to be in Probate?

Probate is the term for the court-supervised process of authenticating a last Will and Testament; it includes locating and determining the value of the decedent’s assets, paying their final bills and taxes, and finally distributing the remainder of the estate to their rightful beneficiaries.

Moving forward:

The move reverses what would have been a costly and consequential impact upon many families and stems the rush which the probate office had been facing, with families desperate to settle their estates before the fee rates increased. The saga highlights the value and significance of probate and the benefits of having solicitors aid with the process.

17 October 2019