Probate is the legal process of dealing with somebody's assets after their death. A probate valuation or a valuation for inheritance tax purposes takes into account all of that person's assets. This may include stocks and shares, saving, property and the contents of their home. Valuations for probate and inheritance tax purposes The loss of a loved one or relative can be a difficult time, and in today’s era of high house prices many families find themselves falling within the trap of inheritance tax. There is the problem of not only how much the contents are worth but how to clear the property. Our probate service is comprehensive and being independent we are uniquely placed to offer advice and guidance throughout the process.
Our probate service includes:
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A digital PDF copy of the valuation sent directly to you and any executors
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A digital PDF copy sent to your solicitor
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Travel to any location in the UK
Following the valuation we are also able to help with house clearances and arrangement for items to be sold.
Valuations for Inheritance Tax purposes (often called probate valuations) are an important part of administering an estate. We provide valuations of works of art, antiques and collectables for inheritance tax purposes in accordance with the Section 160 of the Inheritance Tax Act 1984.
A professional probate valuation does not only help to ensure your peace of mind, but it also serves many other purposes:
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It enables HMRC to calculate the correct amount of inheritance tax payable
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It can identify and value items listed in the will, which is useful for executors
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It can establish the approximate value of assets, which is helpful for equitable division.
If you are an executor or administrator of an estate, and need help valuing a property for probate – we can help. Watson Strand will not only schedule and value the contents for taxation purposes, but also advise on placing the chattels for sale through the best outlets for this type of item. We pride ourselves in providing a caring and professional service to you at this difficult time. Our fees for the above written valuations are based on a competitive hourly rate or on an agreed daily rate.
For further information please contact us below.
Citizens advice have produced a very helpful guide. Which you may also find useful
Other valuation services from Watson Strand
