Take out a loan to pay death tax, families are warned as the extent of the stealth tax raid on wills emerges in the Budget
‘Grieving families may have to take out sky-high loans to pay new probate fees expected to earn the Treasury £1.5billion.
Officials admit those hit with crippling bills of £20,000 may resort to desperate measures.
Government analysis shows that many will have to borrow at costly, short-term rates. Others will be forced to beg for cash from family members or ask a solicitor to pay for them.
The fees must be paid up front to win probate, which is the right to administer a dead person’s estate.’
Read more: Take out a loan to pay death tax, families are warned as the extent of the stealth tax raid on wills emerges in the Budget
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