The government is changing the probate fee structure, which is likely to mean significantly increased fees, particularly for those with high value estates.
There will also be an increase to the estate threshold, which will mean that estates valued up to £50,000 or exempt from requiring a grant of probate won’t incur any probate application fees. At the moment, there is a flat fee of £215, or £155 if through an adviser, on estates over £5,000.
The new structure will also see probate fees – paid when administering the estate of someone who has died – paid on a sliding scale based on the value of the estate, rather than as a flat fee.
If the estate is worth less than £50,000 then there will be no fee for an application for a grant of probate.
The exact fees for estates over £50,000 are as follows:
According to the government, “80% of estates will pay £750 or less and 60% of applicants will still be paying a comparable fee to what they pay now.”
The government has stated that they have revised the amounts so that they are never more than 0.5% of the value of the estate. They have also stated that the income raised from these changes will be spent on running the courts and tribunal service.
These changes will apply to estates in England and Wales only and will apply from April 2019.