• Basic Wills from £150.00
    Basic Wills from £150.00
    Without a valid Last Will and Testament any assets you leave on death will be distributed according to the Rules of Intestacy. These rules lay down a rigid method of estate distribution and make no account of your wishes. Click the image to read more...
  • We realise that most people haven’t experienced probate before. Probate is the administration of a deceased’s Estate by the appointed “executors” in the Will, usually family members. At an already difficult and emotional time, the complexities of executing a Will and establishing any appropriate Trusts can be an arduous task. Click the image to the left to read more...
  • Inheritance Tax is simply a tax on money or possessions you leave behind when you pass on.It can also apply to some “gifts” you make during your lifetime. It is therefore vital that you receive professional Inheritance Tax Advice on your position to minimise the impact and tax paid should the worst happen, ensuring that your loved ones receive as much of your money as possible. Click the image to the left to read more...
  • Without a valid Last Will and Testament any assets you leave on death will be distributed according to the Rules of Intestacy. These rules lay down a rigid method of estate distribution and make no account of your wishes, unless you write a will. Click the image to the left to read more...
  • Lasting Powers of Attorney from £195
    Lasting Powers of Attorney from £195
    Often serious illness or accidents strike without warning. Last year, for example, approximately 130000 people suffered strokes. Without a Lasting Power of Attorney being available this is when it becomes difficult... Click the image to the left to read more...

The Cost of Probate

Whilst Inheritance Tax has been subjected to additional relief from 2017 there are plans afoot to increase the cost of obtaining probate. Executors of Wills need a grant of probate before dealing with the property, money and possessions of a deceased person. The current flat rate cost of £215 is set to increase in varying amounts upwards according to the value of the estate.
For estates worth between £50k and £300k the fee will rise to £300. Between £300k and £500k it will be £1000 and between £500k to £1m the cost will rise to £4000. Estates of £1m plus will face fees of £12000 which is almost 56 times more than at present. Estates above £2m will have to pay £20000 ie 93 times more than at present.
The average property price in England is £301k so those dying who own such a property without any borrowings on it will have to pay nearly five times the current rate. In the South East where the average property price is £536k then the cost of probate will be more than 18 times the present rate.
The Ministry of Justice said that the increases are necessary, making a significant contribution to reducing the deficit and enabling investment which will transform the courts and tribunal service.
Surely a case of giving with one hand and taking with the other!

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