Recent changes mean probate fees in Victoria are now calculated based on the total value of the estate.
Most Victorian estates require the executors to make an application for a grant of probate or letters of administration which then authorises the executor to manage the assets of the estate and distribute to beneficiaries.
The probate application process
The process of obtaining a grant of probate involves the preparation and filing of documents with the Probate Office at the Supreme Court. The deceased’s assets cannot be dealt with until the grant of probate has been made.
Not too many years ago, this process would involve hard copies of the documents being sent to the Probate Office and sometime later, usually weeks, the grant of probate would arrive back at our office in the mail.
On 15th April 2020 the Supreme Court launched an online process where the application for probate is filed online – no doubt you all remember what was happening in 2020 that made that a more urgent need!
Since this process commenced, the turnaround time for a grant of process has dramatically shortened and the grant of probate document is available as soon as the order is made.
It is of great benefit to beneficiaries and executors to have this improved process for probate.
Changes to Victorian Court fees for probate
There have always been fees paid to the Court upon filing that probate application. In 2024 the basis of how those fees are charged was changed.
Now the amount to be paid is based on the value of the estate. The new fees range from:
- $514.40 for estates where the assets are valued between $250,000 to $500,000, and;
- up to a maximum of $16,803.60 for estates valued at over $7,000,000.
The probate application fees are required to be paid at the time the application is filed with the Court and at that time the executors of an estate cannot access the estate bank accounts to pay that fee.
How OFRM Lawyers can help
At OFRM, we understand the additional stress this will cause executors at an already difficult time. This is why we will pay the Court fees up front for all estates. This means a grant of probate or letters of administration may be obtained without a financial strain being placed on executors. The initial Court fee will be recouped from the estate as the assets are called in.
The probate fee increase highlights the importance of proactive estate planning, including establishing trusts or gifting assets during your lifetime. OFRM Lawyers Wills & Estates team can assist you with this estate planning.
Let us help you during this time
If you’re an executor needing assistance with probate or looking to create a solid estate plan, our experienced OFRM Lawyers Wills & Estates team is here to help.
You can call us on 03 5445 1000 or book an appointment which can take place by video conference or at our offices, whichever suits you best!
