Gone but not forgotten: Hike in probate court fees still on the cards
The new probate court fees, which will see individuals with estates over £2m incur fees of £20,000, have been postponed until after the election.
While this isn’t a complete abandonment – it is more than likely that fees will increase – how the charges will be levied is, as yet, uncertain.
Couples who hold property jointly will benefit from reduced fees as the assets will pass by survivorship rather than a Will and will therefore not be counted when calculating the court fees.
We also recommend couples have at least one joint bank account servicing utilities and general outgoings so that in the event that one owner dies, the other has access to funds to keep bills paid whilst probate is being obtained.