probateValuations for Probate

When someone dies and leaves a will, at least one person is typically named executor to administer their estate. They may have to apply for a grant of probate, the official document required for assets to be legally transferred.

Any property involved will always need to be valued for probate, even if it isn’t being sold.

That value is taken as the open market value at the date of transfer – usually that’s the date of death of the deceased. Getting a Chartered Surveyor to do a valuation for probate will mean the property is not over-valued, which could reduce the liability for inheritance tax. Equally, HMRC is far more likely to accept a professional valuation.

 

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