Probate Advice
Advice for Executors of Deceased Estates
Having arrived at this page it is very likely that you have recently suffered a loss and we offer our condolences.
It is difficult to know where to begin when faced with the home contents of a relative, beloved friend or client. It can often be a daunting process particularly as it is very often only a limited number of occasions in one's life.
The purpose of the following information is to indentify some of the typical questions that can arise for executor, and to suggest solutions and guidance to help you through the process.
Valuation of Contents
The advantage of having an independent valuation is mainly that it's more likely to be accepted by revenue officials and it is much less likely for the values to be questioned.
We have considerable experience in the valuing household items of all types, including antiques, fine art and collectables, thereby ensuring that you realise the true market price, and hence maximise the value of the estate. We generally purchase these items directly, so that the time and inconvenience of selling the items at auction can be avoided. It is in the Estate's interest to get the best price wherever that might be reasonably obtained, so this approach makes good sense.
What Do We Do With All These Items?
We usually arrange for the more valuable items to be auctioned and we would identify the main pieces that would be suitable for a specialist London sale. With most clearances we find that there is a fair amount of general household goods and unwanted items that require clearing. In this case we arrange for the removal, recycling, re-use and disposal of such material.
Do I Need a Valuation?
For a relatively small charge and so as not to miss anything of importance, it is always a good idea to have an inventory of the contents, even if it is only just so that the family can use the values to split up items amongst themselves fairly, and also where there are many people going through a property, it will keep a track of items. Therefore we would always recommend a probate valuation or a list is prepared.
How Soon Can a Valuation Be Done?
We give a probate valuation maximum priority and it can be carried out within 48 hours of instruction, and prepared in writing soon after. If a property is left empty it is essential to make sure that the buildings and contents of the deceased's estate are secure and fully insured.
We are able to clear a property at short notice where there is a security risk. It is also important to know that most normal contents insurance invalid becomes shortly after the policyholder's death. In this instance we can provide and arrange special 'Unoccupied Property Insurance'.
The Volume of the Contents is Completely Overwhelming
Very often it is quite confusing for people with an emotional connection to detach themselves sufficiently from item in order to make reasonable decisions. Again, given the proper advice and a reasonable valuation, this can often help executors to make decisions about such items. Properties can sometimes appear untidy and confusing, again, a valuation can help as this will identify the main items of value so that they can be separated from the residual contents.
My advice is to be practical and not let too much sentiment interfere with your thinking, although this is often easier to say than to do.
Please enter you details on the contact form or call 0845 2222 601 and ask for Jeff Avery.