It is often said that there are two certainties in life: death and taxes. Unfortunately, the first generally brings the second following closely behind it.

Inheritance tax (or IHT) is one of the great perennial gripes and one of the first responsibilities of the executor is to carry out a valuation of the estate.

As well as the moveable estate; that is, assets such as money, stocks, and possessions such as jewelry. A valuation of an estate should include property such as houses owned by the deceased at time of death.

Property is one of the biggest assets that needs correct valuing for inheritance tax purposes, especially as many properties may take an ‘estate’ over the inheritance tax threshold.

This valuation must accurately reflect what the assets would reasonably fetch in the open market at the date of death.

Even if a property is not going to be sold by the beneficiaries, it is necessary to submit to the Inland Revenue the value as at the date of death in order to obtain Grant of Probate.

Call now and talk to one of our specialist team for advise on how to save IHT by getting the right experienced valuer to deal with your valuation.

'So far, we have a 100% record of defending valuations that the District valuer has questioned our clients about!’

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