Administering a deceased person's estate in the UK involves navigating the probate process, which includes various fees and potential additional costs. Understanding these expenses is crucial for executors and beneficiaries to manage the estate effectively.
As of May 2024, the probate application fees in England and Wales are structured as follows:
These fees apply whether the application is made by an individual or a professional representative. Additional copies of the grant of probate can be obtained at £1.50 each, facilitating the process of managing multiple assets simultaneously.
Beyond the standard application fee, executors may encounter several other expenses during the probate process:
Solicitor or Probate Specialist Fees: Professional assistance can ease the complexities of probate, especially for large or intricate estates. Fees vary based on the service provider and the estate's complexity, typically ranging from £2,000 to £10,000 plus VAT.
Statutory Advertisement Fee: Placing notices in local newspapers and the London Gazette protects against unexpected claims from unknown creditors. This may cost between £150 and £300, including VAT.
Land Registry Fees: Obtaining title information for property within the estate incurs a fee of £3 plus VAT per document.
Inheritance Tax (IHT): Separate from probate fees, IHT may be applicable if the estate's value exceeds the current threshold of £325,000. The standard IHT rate is 40% on the value above this threshold, though exemptions and reliefs may apply.
Probate fees are typically paid from the deceased's estate. Banks and financial institutions often release funds directly to HM Courts & Tribunals Service (HMCTS) to cover these costs. If sufficient liquid assets are unavailable, executors may need to pay the fees personally and reimburse themselves once the estate's assets are accessible.
Executors or administrators with low income or those receiving certain benefits may qualify for assistance with probate fees through the government's Help with Fees scheme. Eligibility depends on personal financial circumstances, and applications can be made online or via form EX160 before applying for probate.
Navigating probate court fees and associated costs is a critical aspect of estate administration in the UK. Being informed about the current fee structures, potential additional expenses, and available financial assistance ensures executors can manage the process effectively and in compliance with legal requirements.
