Acting for the executors of wills, we will provide a market valuation to determine the value of any property or land at the date of death to assist in the task of dealing with the estate of somebody who has died.
The value of all assets including property, cash and belongings, deducting any outstanding debts is required to determine if any inheritance tax is due. It is usually the responsibility of the executors named in the will to manage this task during the probate process.
A formal valuation conducted by a RICS registered valuer is needed to ensure the correct level of tax is established.
- A valuation conducted by a RICS registered valuer is much more likely to be accepted by HMRC
- If the property is going to be sold, a formal open market valuation by a surveyor is needed
- If an estate includes a property or land held in the sold name of the person who died, you will probably need to apply for a grant of representation
Our service includes
- Initial advice in respect of probate valuations
- Inspection of the property
- Reporting the Market Value at the applicable valuation date
- Negotiating with HMRC should they raise any queries regarding the value provided
We act and advise on
- Valuations for capital gains purposes
- Market valuations for probate purposes