Probate Costs : Potential Rise Based On Asset Value From April 2019

**New death tax to hit grieving families : Fury as ministers hike probate costs from £215 to as much as £6,000.

The cost of securing legal control over a deceased’s estate will soar next April.

Roughly 280,000 families a year will have to pay more than the current £215 fee.

56,000 will face bills between £2,500 and £6,000 in the stealth death tax.**

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Bereaved families must apply for probate to administer their loved ones’ finances when they die. There is a fixed fee of £215 – or £155 for families who use a solicitor.

But the Government is linking the charge to the size of the estate, with the levy ranging from £250 to as much as £6,000 for wealth estimated at over £2million. Inheritances of less than £50,000 will be exempt – compared with the current and less generous threshold of £5,000.

In short , staircasing … the more the value of the estate , the more one pays.

Hopefully , there will not be a last minute surge to beat the April 2019 deadline ?

I wonder if this applies to Trusts? If not, there’ll be a surge in setting up Trusts.

Also, in giving away your estate beforehand!

The government really is despicable in SO many ways.

Trusts under probate ?

AGE UK … FACTSHEET 14 … for the full sp :

https://www.ageuk.org.uk/globalassets/age-uk/documents/factsheets/fs14_dealing_with_an_estate_fcs.pdf