As part of the probate process after someone’s death, a probate valuation will need to be carried out. This gives a full valuation of a person’s estate and belongings so that a will can be executed according to the estate assets and will and also for tax purposes.
An estate can be made up of many assets including the following:
• Savings and money in a bank or building society
• Personal belongings
• Insurance policies
There will usually be an executor of the will whose job it is to look through all the financial documentation and records such as bank statements, tax returns, pension details, share certificates, insurance policies and pension documents to understand the full value of the assets.
For valuations of belongings in the property, there are specialist and qualified probate valuers who can be appointed to carry out house contents valuations for the probate process. If there are other specialist items that need valuations, such as artwork or classic cars, probate valuers will be able to cover these items so you don’t need to contact a range of alternative valuers. Estate agents will also be able to carry out property valuations.
After the probate valuations, you will then need to decide what to keep, what to give away and what to remove completely from the property. You could therefore consider a house clearance company who provides a complete, one-stop probate service to make things easier and simpler, particularly at a stressful time. They will instruct professional and chartered valuers who will be able to value the property and also all personal belongings and items involved.
When the valuations have taken place, debts should be deducted and the necessary taxes ascertained. You can choose to sell any belongings required, and also to remove and dispose of items that have little or no value. These items can be recycled in various ways as well as being donated to charities who will sell on unwanted items to help with raising funds.
The house clearance company can also help to sort out the belongings and items which will take up a considerable amount of time and effort. They can help with the resource and assistance to sort out all of the belongings, decide upon and remove what you need to dispose of and sort out and transport what can be recycled and re-used to various recycling and charitable locations. Due to their experience and professional knowledge, they will be considerably faster at sorting and clearing a property which leaves you time to sort out all of the other probate matters that need attending to.
You may also need to clear all of the property, not just the house, so get a house clearance company that will clear garages and gardens too.
Sonya writes for Lavender Clearances – a fully licensed house clearance and garden clearance professional company.