Probate Court Fees
Posted on 28th November 2018
When a person passes away, if they have left a Will, their estate will most likely need a Grant of Probate obtaining. Solicitors in Lancaster, MG Legal, can help the executors of the Will (the people name in the Will as being ‘in charge’ of the deceased’s estate) to apply and obtain a Grant of Probate.
The Grant of Probate application is made up of an Oath, sworn by the executors (your Solicitors in Lancaster can draft the Oath of your behalf, and guide you through how to have the document sworn), the deceased’s original Will, with two copies, the appropriate Inheritance Tax forms (again, your Solicitors in Lancaster will complete these on your behalf using information they obtain from Banks, Mortgage Companies, Building Societies, etc), and lastly the appropriate fee.
Currently, Solicitors in Lancaster explain, the flat fee for obtaining Probate (no matter what value Solicitors in Lancaster assess the deceased’s estate to have) is £155 if you have Solicitors in Lancaster acting on your behalf, or £215 if you are acting in person. However, with the new proposals put forward by the Government, these fees are set to increase of a tiered system.
The fees, under the new proposal, will be as follows (based on the value of the deceased’s estate):-
Under £50,000 – No fee payable
£50,000 to £300,000 - £300
£300,000 to £500,000 - £1,000
£500,000 to £1,000,000 - £4,000
£1,000,000 to £1,600,000 - £8,000
£1,600,000 to £2,000,000 - £12,000
£2,000,000 plus - £20,000
The new system is controversial, with some people happy with the changes, and some people arguing that the changes would mean that many executors are going to have to find the funds to pay the fee out, before the estate has the funds to do this.
So, if you need legal advice about a Grant of Probate application, or you want to make a Will, contact your Solicitors in Lancaster MG Legal, on 01524 581 306 or email email@example.com to see how we can help you.
MG Legal - Your Solicitors in Lancaster
Tagged as: Garstang Solicitors, Inheritance, Lancaster Law, Lasting Power of Attorney, Living Will, Longridge, Preston Law, Preston Solicitors, Solicitors in Longridge, Solicitors Lancaster, Your Local Solicitors
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