Probate fees are increasing and a new death tax is starting

Assured Wealth and Estate Planning guide to the increased fee level and how forward planning can mitigate the new fees


What is probate?

When someone dies, you need to obtain the legal right to deal with their property, money and possessions, and to do so you need a grant of representation, which is commonly known as ‘probate’.


When is probate not needed?

Usually you won’t need to apply for probate if the estate does not include land, property or shares, if it is passing to a surviving spouse or civil partner because it was held in joint names or if the estate is valued at less than £5,000. However, each financial institution has its own rules and may still require a grant of probate certificate.

The new fees will apply to all applications received by the probate service on or after the date it is introduced in April 2019, irrespective of the date of death.


What is happening to probate fees?

Protecting your assets with Trusts and effective Estate Planning

Most of the people within the UK (65%), do not have a valid will to enable them to leave their assets to the people they want to, when they die.  This leaves them vulnerable to having their: savings; investments; life insurance; pensions and property passed to bloodline family that they may not even know, or indeed like.

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