The Probate Registry fees set to rocket following government consultation
Just twelve months after the government launched a two-month consultation period on the issue of the fee for obtaining a Grant of Representation (commonly known as a Grant of Probate), they have made the decision to link the cost of obtaining one to the value of the estate. This means that Probate Registry fees will increase for everyone with an estate over £50,000, at the lower end by nearly double what they are now, and at the higher end by significantly more.
The Grant of Representation is the document issued by the District Probate Registry and needed by the Personal Representatives of a deceased person’s estate to administer the estate.
The current flat fee, which an executor will pay the Courts to obtain a Grant through a solicitor, is £155. The new fee structure is based on the net value of the estate and ranges instead from £300 (almost double the original flat fee) to an eye-watering £20,000!
The threshold below which no fee is payable will be increased from £5,000 to £50,000 but the increases where fees are payable are high. For example, an estate with a value of £300,000 to £500,000 will see an increase in Probate Registry fees of £845.
May 2017 Deadline
The changes are due to come into effect from May 2017 and will affect any application, irrespective of the date of death.
If you would like further information on the new probate fees or assistance with an application for a Grant of Representation please contact Gemma Tyrrell by emailing email@example.com or calling 01420 82881.