Probate Value Of House Contents
If you are instructing a firm of RICS valuers to carry out a house contents valuation for probate there are a few simple steps to take in preparation for the probate valuers visit.
Make Valuable Items Of Jewelry Or Cash Available
It is a good idea to present to the valuer any items that may have been concealed for security reasons, such as cash or jewelry. Apart from this, the process of valuation is quite simple and nothing to get too concerned about. The valuer will make his way around the property taking note of furniture, collectibles, pictures, rugs and all household items, even if they have little or no value. The inspection or valuation will include garden machinery and tools so you may like to open any sheds, garage or storage areas in readiness for appraisal.
Household Items Can Be Valued Without Emptying The Furniture
It is not necessary to empty the contents of cupboards and drawers because our experienced probate valuer will be able to asses the contents in-situ. If there are items of silver or other valuables he will automatically recognise them and value them accordingly. But there are exceptions and where a house is subject to hoarding the valuation becomes a little more complicated. Details of such valuations can be obtained by contacting our senior valuer Jeffrey Avery.
Putting A Value On The Contents
At this point and as a reputable firm of valuers we advise you that it is important, if not more important to put values even if zero to the chattels. Further to this the Inland Revenue are far more likely to accept our values, as opposed to those submitted by a layman, which may put an executor and the estate at risk of scrutiny by Inheritance Tax officials.
Preparation Of The Written Probate Report
Once our valuer has inspected all of the chattels that form part of the deceased estate, including any vehicles or boats he will return to our office, transfer the details into file for retention and form a written probate report based upon the appraisal which will itemise any high value pieces, along with a round figure for general contents and lesser collectibles. The final written probate report will be compiled on our official headed notepaper, signed by the valuer and promptly forwarded to you within 48 hours of the visit. A pdf version of the report via email will also be available upon request.
Accurate Probate Valuations
Using our Rics probate valuation services will ensure that the estate chattels are not over or undervalued but accurately prepared in strict accordance with Inheritance Tax law. For any further information relating to probate valuation of house contents call Jeffrey Avery directly for confidential advice on 0800 567 7769