Probate Valuation Advice

Probate valuation is the process of determining the value of a deceased person’s assets for the purpose of distributing their estate. This may include real estate, personal property, and financial assets such as stocks, bonds, and bank accounts. Probate valuation is typically carried out by a professional valuer or appraiser, who will consider a variety of factors when determining the value of the assets, including market conditions, the condition of the property, and any relevant legal or tax considerations. The probate valuation process is an important step in the probate process, as it determines the distribution of the deceased person’s assets to their heirs or beneficiaries.

Do you need probate to sell a house?

English Property in UK

You need probate to sell a house if there is no will or the deceased was the sole owner of the house. Here are other events and exceptions:

Do you need a solicitor for probate?

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Obtaining a grant of probate doesn’t require a solicitor. But bear these in mind before taking on the job yourself or engaging a third-party.

Does a life estate avoid probate?

Old pocket watch

Probate provides a trustworthy, transparent, and fair procedure for administering a deceased’s assets. However, with these benefits comes a lot of stress. The probate process isn’t only stressful – it is time-consuming as well. People who prefer their assets passed on to their loved ones without them applying for probate have some alternative legal routes […]

How to set up a living trust in the UK

Probate Law Book on a Shelf

Creating a living trust sounds simple, but it can be more complicated than writing a will. To get started, you need to consult an expert.

How does a living trust avoid probate

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In every living trust, assets are transferred to the trust and a trustee is appointed to tentatively manage them till the original owner dies.

Do you need probate if you are tenants in common?

English Property in UK

If one of the tenants in common dies, it may be necessary to apply to probate to deal with their share of the property. However, some instances where probate may not apply to tenants in common include:

Do you need probate if you have letters of administration?

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Even with a letter of administration, you need probate if there’s a dispute between debtors and beneficiaries. Other circumstances include:

Do you need probate if you have a mirror will?

Man holding a probate book

Probate is required, even with a mirror will. The reason is to confirm that the surviving spouse’s will is valid and contains the same thing as the deceased person’s copy.

Do you need probate if you have power of attorney?

Gavel on a red probate book

Power of attorney and probate are two terms that people often misinterpret when it comes to the administration of a deceased’s estate. Although distinct, these two terms are often a source of confusion. Some believe that because a deceased person gave them a power of attorney while alive, they don’t need probate to administer their […]

Do you need probate if there are no assets

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Several circumstances require probate, even if the deceased had no assets. A situation where the deceased held joint assets while alive is one. Others include:

Do you need probate if there is no property?

Probate Gavel

Generally, probate is often required to settle a deceased person’s estate, especially where the deceased left property behind. However, in some cases, certain organizations, like the bank holding the deceased’s financial assets, the insurance company, or the pension provider, may request a grant of probate before releasing these funds to the beneficiary. The reason is […]

Do I need probate if my husband dies

Whether or not you need probate after your husband passes depends on his financial situation and other factors. These include whether they left a will behind, the kind of assets they had and if they had creditors. When Probate Is Necessary For A Deceased Spouse If your husband wrote a will before he passed, you […]

Can you pay funeral expenses before probate

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Funeral costs can be paid before probate. Below are five (5) ways to do that pending the release of the deceased’s assets.

Who pays for a funeral if there is no money

graveyard

Not everyone can afford funeral expenses, especially when it comes by surprise, whether by an unexpected death or higher-than-anticipated costs. This often leaves the bereaved with no choice but to search for alternative payment options. This guide considers a few ways to cover funeral costs if there is no money. What Happens if You Can’t […]

How much does a probate valuation cost

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The cost of a standard probate property valuation service in London is between 1% and 5% of an estate’s total value after valuation.

What forms do i need for probate

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Before dealing with a deceased’s estate, you need legal authorisation from the court to act. Here, we highlighted the forms you need to support your probate application and the circumstances they are required.

What is a petition for probate of will

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A petition for probate of Will is a request to the court to assess the genuineness of a will after the passing away of the testator. Discover here what it means in detail and the information it should include.

What is a letter of probate

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A letter of probate is a document that the probate court issues to the executor of a deceased person’s estate. Find full details here about what it is, who can apply for it, and the application process.

What do solicitors charge for probate

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Most probate solicitors charge between 1 to 5% of the value of the estate, plus value-added tax (VAT). However, others charge using other approaches. Below is a breakdown of all the approaches – how they work and the factors influencing them. How Do Solicitors Charge for Probate? 1.   Percentage of the Estate Value Probate solicitors […]

What is the threshold for probate in the UK

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he threshold for probate in the UK ranges from £5 000 to £50,000. Generally, there are no fixed laws governing the probate threshold in England and Wales.

What happens when a will goes to probate

Gavel and pen placed on a will

When a will goes to probate, the court will first authenticate the will and authorise the executor to pay all outstanding taxes and debts. Afterwards, the executor distributes the remaining property according to the instructions stated in the will.  Below is a breakdown of the entire probate process: 1. Starting the Process Usually, when a […]

When you don’t need probate UK

English Property in UK

Probate is not required if the deceased died intestate and when the estate is simple or very small. Find out here other circumstances that do not require probate.

How does probate work when there is no will

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Probate gives you the legal right to deal with or administer the estate of the deceased. When applying for probate without a will, you will be required to apply for letters of administration. A grant of probate is what is issued if there’s a will. With the letters of administration, the next of kin or […]

When is probate required in UK

London properties

Probate is necessary for the administration of a deceased’s estate if the value is above £20,000. If the deceased left a will then a grant of probate will be issued. However, if there was no will, then the executor will be issued with a letter of administration. Most of the time financial institutions and other […]

How do I apply for probate

Gavel and pen placed on a will

Probate application is an essential aspect of the process of distributing the estate of a deceased loved one. Probate, otherwise known as a grant of probate, is the legal document that shows the executor or next of kin has the right to deal with the assets of the deceased person. The probate process can be […]

What is probate

signing a will

Probate refers to the legal right to distribute or deal with the estate of a loved one after their demise. In this case, estate basically refers to the properties, money, and possessions left behind. No one can start distributing the deceased estate before acquiring probate. This can be done by either an executor or next […]

Guide to deed of appropriation

Probate Gavel

It’s always hard to cope with the death of a family member. You need time to recover after a loss and get over it. At the same time, you will face a lot of challenges especially if you have been named a beneficiary in your relative’s will. Inheritance can leave you with a large tax […]

Red Book Valuation

Gavel on a red book

Valuation is an assessment of your property’s value. There are different types of valuations used for a wide variety of purposes. A Red Book valuation is just one of them. Solicitors, accountants, bankers and agents are acquainted with this type of valuation. Let’s dig deeper to find out what Red Book valuations mean and why […]

Probate valuation guide

Old pocket watch

Discover the essential guide to probate valuation in the UK, simplifying estate administration and compliance with HMRC

What happens after probate is granted?

probate book

What does it mean when probate is granted? Once probate is complete, this means that you or the solicitor have the legal right to administer the deceased’s estate(property, money and possessions). If the person left a will, you’ll get a grant of probate, if there was no will left then a letter of administration is […]

How long does probate take in the UK

Probate of book

The probate process and the estate administration process takes between 9-12 weeks. In situations where the deceased had small and uncomplicated property, the probate timeline is much shorter. What is a probate? This is the legal right to oversee the affairs of the deceased person before the estate is distributed according to the will. At […]

Handling property inheritance: valuation & home clearance after someone dies

old Living Room

When a family member dies, you, as the inheritor of their property, will have a large job on your hands. As well as informing friends and relatives and making funeral arrangements, you will need to have the deceased’s property valued and cleared. This is a difficult task at a difficult time, and it is understandable […]

Valuing personal property for probate – why get an independent valuation?

Chattels and house contents rarely make up a significant proportion of the value of an estate. However, they will often pose the greatest practical issues for an executor and can be subject to competing claims. For this reason, a prudent executor will want a clearly itemised and properly valued inventory.

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