A chattel is a tangible asset that you own, that you can physically touch and move around. This means it forms part of your estate, and is potentially liable for inheritance tax when you die. But some chattels are exempt, which is why it is essential to understand how … [Read more...]
RICS Property Valuation for Probate in Context
The problem with the law is it sometimes zooms into the details that are oh-so boring. We decided to discuss RICS property valuation for probate in the broader context. That way, we can fit it into the wider picture of dividing an estate fairly after settling … [Read more...]
RICS Property Guide to Flooding
The RICS property guide to flooding explains the specific protection and adaption measures, that a prudent executor should take. This applies particularly to instances where there are delays in winding up an estate, and they find themselves acting as curator. RICS … [Read more...]
RICS House Probate Valuation Easily Explained
There are so many explanations for RICS probate property valuation in UK, it is not difficult to become confused. You may even wonder if some lawyer is trying to tangle you up in knots, although that should not be the case. We prepared this simple guide for Avery … [Read more...]
Things to Remember with RICS Property Valuations
A property’s value should reflect the present worth of the future benefits of owning it. This influences key factors including raising finance, taking adequate insurance, and distributing shares of a deceased estate in turn. Therefore, this is not something we should … [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...]
Should Hoarders See a Doctor?
Hoarded homes can be a real challenge when we arrive to do a RICS property valuation for a deceased estate. Sometimes we can’t even reach into some spaces to do a proper assessment. More than a few clients ask us whether they made a mistake to look past the evidence. … [Read more...]
Probate Valuations by RICS Authorised Surveyors
The UK Government wants its slice of the cake, if any on offer before creditors and inheritors stake their claim. This presents the obvious temptation to keep property value low, although no wise executor would attempt that! Today we debate the wisdom of probate … [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...]
RICS Probate Valuations & Art of Comparables
A solid property valuation is essential when providing estimates for probate purposes. Any estate worth more than £325,000 in terms the current threshold, attracts 40% inheritance tax above that value. The requirement for accuracy also comes into play when dividing an … [Read more...]