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Defining Probate Valuation in Coulsdon
Applying for probate allows you to deal with the property, money and possessions of a person after their demise. Probate valuation in Coulsdon is necessary when applying for probate because it’s one way to determine the value of the assets belonging to the deceased. If the person left a will, then you’ll get a grant of probate. You are issued with a letter of administration if there’s no will.
Valuing house contents (otherwise referred to as goods and chattels) is a significant part of the probate valuation process. It is especially crucial for HMRC inheritance tax purposes. When it comes to Section 160 of the Inheritance Tax Act 1984, Clearance Solutions comes in handy.
You get professional valuation services that involve establishing the assets’ monetary value. If the value of total assets exceeds the tax threshold of £325,000, then the estate is eligible for inheritance tax.
Importance of probate property valuation
Probate property valuation is essential in ensuring that you’re paying the correct inheritance tax amount. You should be able to acquire an accurate probate valuation report that’s in line with the HMRC guidelines.
When valuing a house for probate you should also be wary of valuing your loved ones’ assets too low since you can be suspected of fraud whereas overvaluing it could lead you to pay a higher inheritance tax amount.
Although property and financial assets make up a large part of the estate’s value, house contents also have a significant impact on the final value. With the expert house contents valuation from Clearance Solutions, you get an accurate figure to combine with the rest of the estate’s value.
Coulsdon Professional Probate Valuation services
For our probate valuation in Coulsdon and surrounding areas such as Hampton, Waddon and Addington, you get a qualified and experienced valuer who visits your property to appraise the household items and give you a comprehensive valuation report within 72 hours after visiting.
It is common to find most estates falling within the inheritance tax threshold because of the high property values. You can get access to our valuation services with the prices for a standard package starting from £325+ VAT. For clients with an extensive collection of valuables, we recommend considering the specialist package with prices available upon request.
Professional house content valuations
With our valuation services, you get a Royal Institute of Chartered Surveyors (RICS qualified) accredited valuer or another expert in a similar field to carry out the assessment and provide accurate valuation reports. Some of the valuation services for valuable possessions are highlighted below.
Fine art and antique valuation
The art market is unique in its own way. For estates with valuable antiques or highly-priced works of art, the experts at Clearance Solutions will advise you accordingly on matters of finding a specialist evaluator for such items.
Jewellery valuation services
Considering the fact that the jewellery market can be unique, it’ll be ideal if you get a specialist to ensure that there’s an accurate valuation. With Clearance Solutions, you also get expert evaluators for precious stones and metals like diamonds, pearls, silver and gold.
Probate valuation for valuable collections
Aside from the items mentioned above, our services also include valuing other valuable collections like the ones listed below:
- Rare books
- Medals and coins
Other services provided
Apart from the above-mentioned services, you can reach out to us for professional guidance on house or property valuation, advice on chattel valuation for Capital Gains Tax, inheritance tax and any other assets like bonds stocks and shares.