PROBATE & MATRIMONIAL VALUATIONS

Matrimonial Valuations

In what can be a very stressful time for all parties an impartial matrimonial property valuation is required if the divorcees or civil partners cannot decide on how to divide their assets fairly.
We understand that the home is a special place in any family and in many cases the major family asset. So, it is little wonder that when a family breaks down property will be central to a divorce settlement. Birley Steele Lightfoot provide appropriate property reports and valuations under single or joint instruction, or we can be directly appointed by the court. We have significant experience in preparing valuation reports that can be used in matrimonial and family negotiations, or for court purposes where the surveyor is appointed as an expert witness. Our experience includes attendance at High Court in respect of these matters.

Our reports are independent and based on the standards set out by the Royal Institution of Chartered Surveyors (RICS). If you require any further information or a quotation, please contact us.

Probate Valuations

Understandably, along with everything else that you have to deal with following a person’s death obtaining a property valuation for probate purposes may well end up at the bottom of your to do list. All of the assets and liabilities in the deceased’s estate will however normally need to be valued as at the date of death, in order to work out if the estate will be chargeable to inheritance tax and if so how much will need to be paid. Whilst this includes cash in bank accounts, investments, life policies, personal effects etc. it also includes property. Commonly valuations are thus required for property.

Valuations for “Capital Gains Tax and Inheritance Tax purposes” can be carried out by the executors/administrators who can provide their opinion of the value of the property. Lay executors/administrators are however not usually experienced enough to give an accurate figure. Birley Steele Lightfoot as qualified Chartered Surveyors who are accredited by the Royal Institution of Chartered Surveyors Valuer Registration Scheme (VRS) are however able to do so.

It is always advisable to appoint a qualified Chartered Surveyor to ensure that the property is not over valued with unnecessary inheritance tax being paid as a result. Birley Steele Lightfoot has significant experience in providing property valuations for probate purposes. We will be pleased to discuss your requirements further with you and provide a quotation.