Substantial increase in Probate Court fees due in April 2019
PCB Solicitors head of Wills and Probate Pauline Davies has warned that there will be substantial increase in Probate Court fees in April. Shropshire residents will see a rise in Court Fees with an increase at the highest level being £5,785.
Pauline Davies said "it has been proposed that Probate Court Fees should be increased. This has been voted for at a committee level meaning that it will become law unless there is an objection by an MP. These increases are expected to come in on the 1st April, executors or administrators of estates should act now to avoid the substantial rise."
The proposed fees will be as follows:
• Estates worth less than £50,000 will pay nothing, meaning estates worth between £5,000 and £50,000 will save £215 compared to the current system.
• Estates worth from £50,000 up to £300,000 will pay £250, a rise of £35.
• Estates worth from £300,000 up to £500,000 will pay £750, a rise of £535.
• Estates worth from £500,000 up to £1 million will pay £2,500, a rise of £2,285.
• Estates worth from £1 million up to £1.6 million will pay £4,000, a rise of £3,785.
• Estates worth from £1.6 million up to £2 million will pay £5,000, a rise of £4,785.
• Estates worth more than £2 million will pay £6,000, a rise of £5,785.
If someone has died and you want to get the Grant of Representation issued before the increases then contact our experienced Wills and Probate team as soon as possible. They will be able to advise on the information involved whether it will be possible to beat the deadline.
A pro-active approach of individuals and families which may be affected by these increases can be taken and PCB Solicitors would recommend speaking to one of our skilled solicitors about managing your estate in your lifetime this could include the creation of a Trust.
For further information please contact us today by phone or email.
If you have any enquires about this article then contact our Shrewsbury office on 01743 248148.
PCB Solicitors LLP is a modern partnership, with offices in Shrewsbury, Church Stretton, Craven Arms, Knighton, Ludlow, Telford, and Clun (by appointment only).