You may well have heard about the recent intention to increase the court fees payable when applying for a Grant of Representation.
For many years the fee has been set at a flat rate of £215 for a personal application (£155 for an application by a Solicitor) but in future (from 1 April 2019) the amount of the court fee will depend on the net value of an estate for probate purposes.
This will result in estates valued at between £500,000 - £1m having to pay £2,500 (an increase of £2,285), estates valued at between £1m - £1.6m having to pay £4,000 (an increase of £3,785), estates valued at between £1.6m – £2m having to pay £5,000 (an increase of £4,785) and estates valued above £2m having to pay £6,000 (an increase of £5,785).
The proposed fee increase has been dubbed by a House of Lords committee as a ‘stealth tax’ and there has been much anger at the proposed increase. However, it appears that, with the Government distracted by Brexit, the increase will go ahead as planned.
If you would like to discuss whether and how how this is likely to affect you or your family please do not hesitate to contact Carl Wheeler of our Private Client team on 01635 580858 or at CWheeler@horseylightly.com