We worked hard all of our lives, and accumulated a house-full of possessions solicitors call chattels. Some one has the task of disposing of our chattels amicably after we pass away. This is not a pleasant duty, but it is something that must be done. The law will … [Read more...]
Chattels Wills and Letters of Intention
A will is a legal document in which you confirm what you want to happen with your money, property, chattels, and any other possessions. There is no substitute for a legal will, unless you want your closest relative(s) to claim the lot. So why are we writing about … [Read more...]
Tracking Down a Deceased Person’s Chattels
We start thinking more often about what will happen to our possessions as we age. Perhaps we should do so after we start raising children, because there’s no knowing when our time will come. Tracking down a deceased person’s chattels can be a painful experience for … [Read more...]
Separating Out the Chattels and Fixtures
One might have thought the distinction between chattels and fixtures was obvious at first sight. After all, Oxford Learner’s Dictionary defines chattels as ‘personal possessions that are not land and buildings’. While elsewhere it says fixtures are ‘fixed to a house … … [Read more...]
Sharing Family Chattels Under Probate
Sharing family chattels under probate can be a traumatic business, given the stresses of the moment that can cause rifts. We have had similar experiences when separating couples ask us to value joint possessions. Our discreet support includes converting them to cash, … [Read more...]
Valuing Chattels and a House for Probate
You have to get permission (solicitors call it probate) before you can wind up a deceased estate. The UK government will not provide this permission, until any inheritance tax due is settled. HMRC calculates this duty based on the value of the estate. This post … [Read more...]
Chattels and Inheritance Tax Implications
The UK inheritance tax rate stands at a whopping 40% of all value over £325,000. It is therefore not difficult for a property owner to exceed this amount in the South of England. There’s no sign of this rate falling any time soon, making the implications of chattels and … [Read more...]
Chattels For Probate What You Should Know
The word ‘chattel’ is a legal term for tangible, movable assets we can touch. It derives from the Middle English chattel, which probably came down to us from the Latin word 'capatalis'. Although there is also a counter-theory it derives from the Anglo Saxon derivative … [Read more...]
Chattels and Inheritance Tax – The Facts
We’ve possibly seen all too many television road shows for there to be any doubt. There are treasures to be found in senior’s homes as they drift to the end of life's journey. We investigate the relationship between chattels and inheritance tax. Better read on, because … [Read more...]
Professional Chattels Valuations for “Fixtures and Fittings” in a House Purchase
We regularly carry out highly specialised professional chattels valuations for purchasers and conveyancing. However, please be aware of possible questions from HMRC by reading the following information and advice and HMRC definitions. Speak to Jeffrey Avery for expert … [Read more...]
