After a death where assets are involved, property is often the biggest asset that needs correct valuing for inheritance tax purposes. Many properties may take an ‘estate’ over the inheritance tax threshold on their own, without consideration of other things.
This valuation must accurately reflect what the assets would reasonably fetch in the open market at the date of death. Even if a property is not going to be sold by the beneficiaries, it is necessary to submit to the Inland Revenue the value as at the date of death in order to obtain grant of Probate.
Carpenter Surveyors undertake valuations on behalf of the nominated estate representative, ensuring that the process is completed correctly and that the Inland Revenue is satisfied that the estate has been managed and reported on correctly.
If you need help with property valuations for probate call Carpenter for a helpful and discreet advice.
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