living the good life on less

Faith archer offers her tips on how to spend smarter – and save money – this month

Smart ways to save money

NEED TO KNOW

More than 250,000 bereaved families a year will be hit by higher “death tax” if government changes go ahead. Probate fees in England and Wales were due to soar after April. Probate is the process of applying for the legal right to deal with property, money and possessions left after someone dies. Previously, applying for probate only cost £215, or £155 when using a solicitor, on estates worth £5,000 or more. In future, fees will be linked to the value of the estate. If it’s worth less than £50,000, you won’t have to pay any fees. However, those inheriting larger sums will face much bigger bills – estates worth £500,000 to £1 million are liable for £2,500 probate fees, and a maximum £6,000 will be charged on those worth more than £2 million.