The Government is introducing a dramatic rise in probate fees from May this year.
Currently flat fees apply of £215 if probate is applied for by friend or family member and £155 if a solicitor completes the process. Under the new plans estates worth £2m will have to pay a fee of £20,000 to execute the wishes of the deceased’s will.
There is less of an impact on smaller estates of between £50,000
– £300,000 where the fee is £300 but this still represents a considerable increase to which there has been a lot of opposition.
If you are concerned about how beneficiaries of your estate will be able to pay these new probate fees, please call Iain Wanstall to discuss how he may be able to help you with your estate planning.
Call 01727 858807 or email email@example.com to make an appointment to discuss your needs.