'Probate' is a term commonly used when talking about applying for the right to deal with a deceased person's affairs.
It's sometimes called 'administering the estate'. Please see the DirectGov
website for further information.
It is normal procedure for solicitors and executors acting on behalf of a deceased estate to appoint an independent valuation of the household chattels and other personal effects to help assess inheritance liability (IHT).
Valuers act in accordance with section 160 of the Inheritance Tax Act 1984 and deal directly with solicitors and executors. Speed, diplomacy and accuracy are the most important factors with most probate/IHT valuations.
Once received instructions are therefore carried out with priority. The aim is to minimise as far as possible, concern, stress and the work of the executor.
In most cases documentation will be delivered within days of the valuation at a very reasonable cost to the estate. The average price of a probate valuation is beneath £500 but depends on the size of the estate. Our fees are highly competitive and the price will be agreed before any work is started.
A valuation certificate may be finalised within a week and it is not normally necessary to photograph general household items. In this case the valuation reflects disposal through quickest possible means, sale or auction. Higher value items may need to be listed and photographed.
It is often the case solicitors/executors require the house to be sold and the disposal of the household contents. We are experienced at all methods of disposal from 'house clearance' to sale by auction. We have an extensive network of contacts from Bond Street to provincial auctioneers, and are well placed to advise on the most appropriate market place for best return.
Disposal after probate? This vase was set aside for the charity shop
Following probate valuation it is now at Bonhams awaiting sale Royal Doulton and expected to realise £1200-£1500