UK government DELAYS plan to raise probate fees
The recent announcement of a General Election on June 8th 2017 means the plan to increase probate fees to as much as £20,000 from May 2017 will not be able to be completed in time.
The reason is the relevant statutory instrument (SI), a form of legislation that allows a parliamentary act to be made or altered without a vote by MPs, would not be completed before the election.
Make no mistake though, this will be picked up again and completed if the Tories are re-elected in June
Our advice remains to:
- Put in place inflation busting pre-paid funeral plans now
- Start a whole of life insurance plan, payable into a Life Insurance Trust that will be available to your beneficiaries immediately upon your death as it will not form part of your estate – any fees will then be able to be paid up front
- Nominate TWBD as your Executor, all up front fees will then be paid by our FCA regulated probate specialists and claimed back from your estate once probate has been granted. With a fee of just 1.75% of the estate value this represents an easy and hassle free solution to the whole headache of probate
Call us now on 0800 668 11 64 for more information