A probate valuation is an entire process of determining the estate of someone who died. This involves organizing their money, assets, and possessions and distributing them as an inheritance – after paying any taxes and debts. If the deceased has left a Will, it will name someone that they’ve chosen to manage their estate. This person is known as the executor of the Will.
There’s an upfront fee for probate, whether you decide to go it alone or appoint the help of a probate professional. Estates worth less than £5,000 pay no fee. Additional copies of the probate form can be ordered for £1.50 each. Multiple copies are essential for the administration process, so it’s a good idea to order a few extra copies.
When choosing a probate valuation company have in mind the probate fees applied in the process. There can be:
- Probate application fee of between
- Swearing of the oath
- Bankruptcy searches
- Statutory Notices
Always ask about the fees in advance as well as the duration of the process and the necessary documentation that needs to be supplied for the process to start.
Given that in those difficult times it can be hard to deal with this entire process alone, there are services that would help to do the heavy work for you. When it comes to the valuation of the contents, this process may be a bit more difficult since it will involve a large number of possessions accumulated over time, and many of them will have more sentimental value than monetary. The key is to work with the right company that will help determine the value of the items for the probate.
Companies that offer both probate valuation and house clearance are the right places to turn for this kind of help. This means they can value the contents of the property as they assess it and provide a report for the probate to help calculate the estate’s value. Once the probate has been completed, the same companies can help with the house clearance.
Since it would save a lot of time, instead of choosing several companies, the best way to go is to hire a company that provides both probate valuation and house clearance services. Manor Clearance is such a company that offers both, and having someone in charge of the probate valuation procedure will help you throughout those difficult times.