Probate Valuation Reports
Probate Valuation Reports or Red Book Valuations as they’re otherwise known are required if a friend or family member passes away and leaves a property that could lead to an inheritance tax liability. The property will need to be valued and the figure will be added to the value of the deceased estate.
It’s really important that you get the right company to do a Probate Valuation for you as the wrong valuation could cost you thousands of pounds in additional inheritance tax. As Registered RICS Valuers we are specialists at undertaking Probate Valuation Reports.
A Probate Valuation will enable you to:
Correctly value the property
Inform HMRC if any inheritance tax is due
May help to reduce any liability
Aid your solicitor in obtaining probate
What's included in a Probate Valuation Report
Fox Property Consultants are RICS Qualified Chartered Surveyors who are able to provide property valuations for probate purposes during what may be a difficult time. A persons estate needs to be valued to establish whether or not Inheritance Tax will be payable. If the net estate is worth more than £325,000, then Inheritance Tax may be payable on the portion of the estate over this level.
Our Red Book probate valuations are written in accordance with RICS and HMRC guidelines and give you a comprehensive and detailed outline of any property in your estate, for the purposes of inheritance tax planning and probate.
We have carried out Probate Valuations in Bournemouth, Poole and Christchurch and have expert knowledge of the local housing market to help you get the right valuation for your purposes. We are recommended by a number of local solicitors and estate agents to undertake this service and can help you through the process at what may be a difficult time.
If you need any advice on the process, please call us on 01202 531919 or click here to contact us and we’ll be happy to guide you through the process and give you a valuation quote today.
