What is a Probate Valuation?
"I met Mark when he conducted a valuation of my fathers effects for probate purposes. During our meeting he was professional, friendly and showed an understanding of my situation, answering all my questions. His report was detailed and he took the time to give me a full explanation of his valuation. I found him warm and easy to talk to throughout.I would not hesitate to recommend his services."
Mr S.Ward of Bristol |
"We would like to thank Mr Fraser for his professionalism when undertaking the probate valuation of my late uncle’s house contents. He made the process simple and his knowledge regarding the art and antiques was remarkable"
Mr R.Edwards of Bristol. |
Coping with the passing of a loved one is traumatic and overwhelming, and the legal process that follows can be confusing. However in recent times HMRC have made it far easier for executors to navigate.
In basic terms, if an individual dies and leaves an estate valued in excess of £325,000 it will be subject to Inheritance Tax, and today with more people owning their house outright than ever before it means that more estates now fall into this category.
It's vital to stress the importance of this valuation being compiled by a professional, as if an item is grossly undervalued, HMRC are very likely to make an investigation.
The figures used in these valuations are based on current ‘open market’ figures, or put another way, a central auction figure. So if for instance a piece is valued for probate at £500 it would be entered for auction with an estimate of £400-£600.
Mark has conducted hundreds of these valuations in accordance with Section S160 of the IHT Act and is renowned for his sensitivity, understanding and of course discretion at this most difficult of times.
His service is professional and prompt and his fees are extremely competitive.
In basic terms, if an individual dies and leaves an estate valued in excess of £325,000 it will be subject to Inheritance Tax, and today with more people owning their house outright than ever before it means that more estates now fall into this category.
It's vital to stress the importance of this valuation being compiled by a professional, as if an item is grossly undervalued, HMRC are very likely to make an investigation.
The figures used in these valuations are based on current ‘open market’ figures, or put another way, a central auction figure. So if for instance a piece is valued for probate at £500 it would be entered for auction with an estimate of £400-£600.
Mark has conducted hundreds of these valuations in accordance with Section S160 of the IHT Act and is renowned for his sensitivity, understanding and of course discretion at this most difficult of times.
His service is professional and prompt and his fees are extremely competitive.
"I engaged with Mark when my father passed away and I was named as the executor for his will. I had decided to handle the estate without using a solicitor and the process was quite confusing so Mark provided options and advice on how to value dad’s possessions for the purpose of HMRC Inheritance Tax & Probate
Guiding me through the valuation process, Mark’s approach was professional and compassionate. I found him extremely helpful in all respects and his practical approach and professional documentation ensured that this part of an emotionally trying process was smooth, simple and straightforward."
Ms A.Genge of Bristol.
Guiding me through the valuation process, Mark’s approach was professional and compassionate. I found him extremely helpful in all respects and his practical approach and professional documentation ensured that this part of an emotionally trying process was smooth, simple and straightforward."
Ms A.Genge of Bristol.
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