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Rising Probate Fees and Delays Adding Strain to Grieving Families

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Probate delays

Families dealing with the aftermath of losing a loved one are facing growing challenges when applying for probate, a legal process that enables the management and distribution of a deceased person’s estate. Recently, a report published by the Daily Mail highlighted concerns over rising probate fees and significant delays in processing applications, exacerbating the stress on bereaved families.

According to the report, probate fees are set to increase by 10%, with the cost for an application rising to £300 in May 2024. This increase comes despite ongoing delays at the HM Courts and Tribunals Service (HMCTS), where families have reported waiting up to two years for the necessary legal documentation. The standard wait time is supposed to be 16 weeks, but data revealed that in 2023, almost 1,500 families experienced delays of over a year.

The delays not only prolong the grieving process but can also cause significant financial losses for families. For example, one case cited in the article detailed how the value of an investment portfolio had dropped by £300,000 due to the lengthy probate process.

Shaun Moore, a tax and financial planning expert at Quilter, commented on the strain families are facing: “The increasing length of time it is taking HMRC to grant probate will just add to the stress of the process…This can have huge ramifications for a family.”

The report also highlighted that the delays may force families to reduce the value of property sales, as in the case of Peter West, who had to lower the asking price of a relative’s property by £30,000 due to the extended waiting times.

The report also highlighted that the delays may force families to reduce the value of property sales, as in the case of Peter West, who had to lower the asking price of a relative’s property by £30,000 due to the extended waiting times.

While the Ministry of Justice has claimed that the fee increase will help recruit additional staff to address the backlog, families and experts alike remain concerned that the rising costs and delays are causing unnecessary hardship.

At Viva Planning, we understand the importance of timely and efficient estate planning to avoid such costly delays. By ensuring your affairs are in order, you can help your loved ones avoid these potential setbacks. If you’re concerned about probate or estate planning, reach out to us for a free consultation to explore your options.

Source: This article references content from Daily Mail, originally published on April 23, 2024, by Matt Strudwick. Read full article here www.dailymail.co.uk/grieving-families-face-probate-fees-rise.