The government has unveiled significant changes to probate fees, which could result in owners of high-value properties paying nearly £6,000 more.
Meanwhile, 80% of estates that are affected will pay ‘£750 or less’, according to the government.
However, if an estate’s value exceeds £1 million, individuals are set to experience a significant rise in probate fees. Around 280,000 estates will be liable to the higher fees, according to experts.
‘This new banded fee model represents a fair and more progressive way to pay for probate services compared to the current flat fee, and reflects our commitment to protecting access to justice by ensuring we have a properly funded and resourced courts system,’ said Parliamentary Under Secretary of State, Lucy Frazer QC.
‘We are also confident these fees will never be unaffordable. The cost of the fee is recoverable from the estate and executors have several options to fund it.’