The valuation for probate of house contents has now become a serious matter for executors and solicitors.
Solicitors Recommend A RICS Valuation For Probate
Almost all solicitors will appoint a qualified RICS surveyor who has the knowledge and expertise to be able to carry out an accurate and fully Inland Revenue compliant probate house contents valuation when acting for a client who is an executor or if he or she as the solicitor has been appointed with the task. The valuer will be well versed with IHT criteria, have a good reputation with IHT officials along with a solid long standing track record. The valuer should also be able to provide credentials, and recommendations from other law firms or estate administrators demonstrating their competence and expertise
Accurate Valuation For Inheritance Tax Purposes
Avery Associates provide valuations for probate purposes, that is for house contents, fine art and antiques, classic cars, stocks and shares, property, boats and caravans, farm machinery and anything that may form part of an estate that is subject to Inheritance Tax. Our weekly articles clearly show the nature of our work and the types of furniture and effects and scenario’s when we value, and can be used to give you an idea of how the process works.
The Importance Of Obtaining A RICS Valuation For Probate
The probate valuation of an estate must be taken seriously, that’s why a solicitor will always use a firm of RICS fine art and chattels valuers who will be taken seriously and have a sound relationship with the probate office at Inland Revenue, and who also have an in depth knowledge of how to assess and prepare an official written probate report. How to accurately put values to chattels at all levels of value, from a few pounds to many thousands, and the latter being the downfall for most executors who believe that its not important when they assume that a the probate value of house contents is in their opinion low. Inland revenue officials will disregard estimates or just a stab in the dark unless of course their is a legitimate reason, and are quite likely to investigate and penalise any executors found to be acting negligently.
Detailed Probate Advice And Information Upon Request
There are many factors to take into consideration when dealing with estate probate valuation, and this is purely a summary, so for more accurate information we advise you to call our office and speak to a specialist probate advisor or in house RICS surveyor who will answer your questions if at all possible. We can normally answer all questions, but for more complicated matters we have a probate consultant and probate lawyer on hand to help.
Probate Services Available For Solicitors And Executors
For solicitors and executors who require more information about how to value chattels, or anything else that makes up part of the estate subject to Inheritance Tax and probate please call Jeffrey Avery directly for confidential free advice on 0800 567 7769