The fees payable under the new structure are set out below, and could be up to £6,000 for the most valuable estates:
Estates worth less than £50,000 will pay nothing.
Estates worth from £50,000 up to £300,000 will pay £250.
Estates worth from £300,000 up to £500,000 will pay £750.
Estates worth from £500,000 up to £1 million will pay £2,500.
Estates worth from £1 million up to £1.6 million will pay £4,000.
Estates worth from £1.6 million up to £2 million will pay £5,000.
Estates worth more than £2 million will pay £6,000.
Barwells are encouraging Executors to prioritise applying for Probate before the new fees come into effect. An exact date for the price rise has not been set but it looks like being in April, so there is limited time for Executors to take action. If Executors cause unnecessary delay, they could be liable to account to the Beneficiaries of the Will for the additional costs incurred.
At Barwells Solicitors we have a team of sympathetic and expert lawyers ready to assist you. We have in-depth knowledge in all areas of Wills and Probate. So whether you would like to create a Will, apply for Probate or would just like to find out more about what we can do for you, call us today on 01323 899331 to have a chat with one of our specialist solicitors.