What happens if an estate does not have enough money to pay its debts?
When an estate does not have enough money to pay its debts, it is legally considered insolvent. The remaining unpaid debts are typically
Read postMOJ announces rise in Probate application fee
The Ministry of Justice (MOJ) has announced that the Probate application fee will rise from next month, as one of a number of fee increases.
Nearly 200 tribunal and court fees will go up, with 170 of them rising 2.6%. Another 27 are set to go up by 34%, with these increases being roughly in line with inflation. However, it is the increase to the Probate application fee that has attracted the most attention within the legal sector. This is scheduled to go up by an astonishing 75%. This fee currently stands at £300, but will rise to £526 from 13th July.
It is an announcement that has produced a wave of criticism from both lawyers and consumer experts. In the latter camp is Martyn James, who told Money Week that the increase will undermine any sense of value for money.
He then stated:
“Probate is one of the most antiquated, bureaucratic and complex processes we will encounter – precisely at the point where we need simple and clear help the most.”
It is because of the complexity of estate management that so many people turn to Probate solicitors in North Wales. However, the government is claiming probating an estate will be made more efficient by these fee increases.
It argues that Probate resolution times have been cut by over 50% during the past three years, due to system upgrades and staff investment.
If you need the help of solicitors in North Wales with years of experience in estate administration, give Bennett Smith Solicitors a call right away.
Related articles
What happens if assets are discovered after Probate has finished?
This situation is quite common. Forgotten savings accounts, premium bonds or old pensions can
Read post
Written by
Need legal advice?
Speak to Bennett Smith Solicitors and our experienced team will help with your enquiry.
