Nia Wharry, Partner & Head of Wills & Estate Planning
– You may have heard in the news recently about the increase in probate fees. This article explains what the changes will mean for you. Our experts in Wills & Estate Planning can help you with any probate matter.
The Government’s latest tax on dying is set to bring in £320 million a year from people whose relatives have died.
The fee to get court approval for the distribution of their property, money, and possessions – called probate – will rise in May. The current flat rate in England and Wales of £215 (or £155 through a solicitor) will be as much as £20,000 on some bigger estates. The change does not affect Scotland or Northern Ireland.
For estates that include an average home the fee will rise by 40% to £300. Those with a typical family home in London and the South East could pay as much as £4,000. For estates over £1 million the fee starts at £8,000 and will be as high as £20,000 over £2 million.
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