Victoria Raises Probate Fees Significantly

The Allan government of Victoria is set to significantly increase probate fees, particularly for estates valued over $2 million, leading to concerns of a potential investment exodus. Effective November 18, fees for estates worth more than $3 million will jump from $2,319 to $7,185, marking a substantial rise that has drawn criticism from the opposition as a 'death tax by stealth'. While estates valued at less than $250,000 will now incur no fees, those between $250,000 and $2 million will experience fee hikes of up to 650%. Critics, including Shadow Attorney-General Michael O’Brien, argue that these changes, introduced just before the Melbourne Cup, unfairly burden grieving families. The government defends the increase as a necessary adjustment to cover the administrative costs associated with managing complex estate disputes. Economists suggest the fee structure, while alarming, still positions Victoria lower than other states regarding probate fees.