Grieving families will soon face a 75% increase in probate fees starting next month. Probate grants the legal authority to manage the estate, including property, finances, and assets, of a deceased individual.
Currently priced at £300, the probate application fee is set to rise to £526 on July 13 pending approval by Parliament. The Ministry of Justice stated that the fee adjustment is necessary to cover the costs of enhancing services, accounting for inflation, and investing in efficient and modern service delivery.
The last probate fee increase occurred in May 2024, going up from £273 to £300. Executors named in a will or the closest living relative in the absence of a will can apply for probate. Typically, probate is required for estates exceeding £5,000, although this threshold may vary based on the financial institution holding the assets or if assets were jointly owned.
In cases where there is no will, assets are distributed according to the rules of intestacy. In England and Wales, spouses or civil partners automatically inherit up to £322,000 of the estate. Amounts exceeding this are divided between the spouse and children, with the spouse inheriting half of the remaining assets and the rest being equally shared among children and grandchildren.
Different rules apply in Scotland and Northern Ireland. Individuals considering making a will can explore cost-effective options such as Free Wills Month in October and March, where solicitors provide free will drafting in select locations. Another option is Will Aid, held in November across the UK, where participants make charity donations in exchange for will drafting services.
Suggested donations for a single will are around £120, while for a mirror will, it is approximately £200, with flexibility for lower contributions if desired.