Plus: Why your Monzo account may be costing you more than you think
Telegraph Money | The week's most important personal finance news, analysis and expert advice, from pensions and property to investment ideas and savings tips. |
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The Telegraph take | By Sophie Smith personal finance reporter |
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Thousands of property transactions are at risk of failing because of huge delays in probate applications before the introduction of controversial new fees. For the largest estates, this is an increase of 3,770pc – and a bill of 6,000. Telegraph Money readers have slammed the levy increase as another tax on dying. "Pretty soon you won't be able to afford death", said one. If you have been affected by the delays, our personal finance reporter Harry Brennan would like to hear from you. Email: harry.brennan@telegraph.co.uk Solicitors have also warned that the introduction of new probate fees will be used as a way for unregulated providers to sell trust arrangements people do not necessarily need. This weekend we reported the collapse of a string of unregulated firms that promised to cut care home fees and inheritance tax via the use of trusts, which has left families fearing for the control of their homes and other assets. Richard Bates, of solicitors Cognitive Law, said people could be tempted by trust providers offering to protect their estates, but warned that the cost of setting up a trust is likely to be just as much as the highest proposed probate fee band. Like what you see? Get all our biggest and best money stories – from tax, pensions, investing and more – for just 2 a week with a subscription to Telegraph Premium. Start your 30-day free trial here.
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