On 30 September 2018, the new Supreme Court (Fees) Regulations that set out the new fees and fee structure came into effect.
The table below outlines the new fees for a Grant of Representation (e.g. probate).
|Gross value of estate assets (Victorian only)||Fee|
|Less than $500,000||$60.70|
|Between $500,000 and $1,000,000||$325.10|
|Between $1,000,000 and $2,000,000||$606.90|
|Between $2,000,000 and $3,000,000||$1,329.40|
What are the fees for and how are they applied?
When a person passes away with significant assets, a Grant of Representation from the Supreme Court of Victoria is required in order to deal with those assets.
The Court charges a filing fee to apply for the Grant (whether for Probate, Letters of Administration or a Reseal of a Grant issued in another State or Commonwealth country).
From 30 September 2018, the fee for all applications will be linked to the gross value of estate assets located in Victoria (i.e. disregarding the debts / mortgages). Previously, the Government charged a flat fee of $325.10 for estates with gross assets (located worldwide) over $1,000.
Though a welcome reduction for estates less than $500,000, the change will represent a significant increase for the average estate with Victorian assets valued over $1,000,000.
For more information regarding the new Supreme Court (Fees) Regulations, or for assistance with or advice on probate, please contact our Estate Group on (03) 8600 8885.
This Estate Group update was authored by Ainsleigh Lugger, Lawyer.
Note: This update is a guide only and is not intended to constitute legal advice.