Probate Fees increase on hold
Following the announcement of the snap general election, the Government has put their plans to increase probate fees on hold. With many hoping that this paves the way for the plans to be scrapped altogether.
Why is the increase to Probate fees on hold?
The controversial plans which would see probate fees for the wealthiest estate rise to an eye-watering £20,000 were set to come into effect next month, May 2017. However, the Ministry of Justice has confirmed today that they would not be able to push the relevant statutory instrument – a type of legislation that would allow them to introduce the changes WITHOUT an MP vote, through before the election.
This means that it will be up to whoever is in power following the election to decide if they want to implement the proposed probate fees increase or not. And, as the plans have proved to be so unpopular the newly (or re-elected) party, will not be able to reintroduce the idea following the election.