A crucial and rather significant part of estate valuations for probate are the deceased’s home and possessions. The wider valuation process covers off other monetary possessions including shares, savings, and other investments.
Every probate valuation is entirely unique and invariably quite complex. This is a stressful proposition for family members who have already experienced the loss of a loved one, and now left behind to administer the wishes of that family member. In most cases, the family will choose to employ the services of London based professional probate valuers and legal representatives to carry out this complex task. A wise decision given there could also be tax implications in the form of inheritance tax. Certainly not an area of expertise we cover, but we do always recommend to clients they seek professional help, and will recommend where feasible and ethical, certain partner organisations that can administer this type of work for the deceased’s family members.
The valuation of contents
Contents valuation for probate is our area of expertise, as well as our ability to clear a house of those contents, whether items are left to family members, sold at auctions, or disposed of in a sustainable manner. In the first instance, a legal firm takes control of the situation and liaises with all parties to carry out probate valuations. Estate agents will be called in to value the property, and companies like Manor Clearance are asked to value the contents of the home. As you can appreciate, a large home with rooms, lofts, garages, and outbuildings full of possessions is considerable task for a probate valuer. A task we can boast in decades of experience, having valued, and provided a comprehensive house clearance service for many London and home counties properties.
- The first stage in the process of content valuation is to make an extensive list of items in the home and external areas. This can include, cars, jewellery, ornaments, and furniture, plus many other items that could be of value as part of the estate valuations.
- The next process are the individual valuations, and this involves a huge amount of experience as well as extensive research to value items. Invariably, we do stumble across some unusual or unexpected valuable antiques and collectibles.
- Once all items are valued for probate, a full itinerary is presented to the legal representative, while we liaise with all parties including auctions, the family of course, and other parties that will be involved in the disposing of the estate.
Although this provides a very simple overview of our work, it does conjure up in the minds of all that our work is invariably in most cases a huge task, and one that needs the very best probate valuers and house clearance professionals in the most sensitive of times.