For many, the key concern was how they would pay the increased fee. With some facing a £20,000 bill, it may have been necessary to seek other methods of funding such as bank loans.
This would lead to further stress during what is already an emotionally draining period for families, not to mention having to pay back a loan with interest once probate is granted. It is still sound advice for advisers to consider ways in which people could access financial support and be ready to provide these options if the probate fee rise reappears.
Ultimately, the government’s decision seems counter-intuitive given their previous determination to enact the change. If it turns out to be a postponement rather than an abandonment, all the concerns associated with a higher fee will return. Advisers should be mindful of this and have a contingency plan in their back pocket.
