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Probate Valuation

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Probate and Estate Administration

Administering the estate of a loved one can often feel complex and overwhelming. At Mark Kelly & Associates, we bring over 40 years of combined experience in guiding families through the probate process, including the sale of property. Acting as an Executor or Administrator carries significant responsibilities, and specialist advice is essential to ensure everything is managed correctly and with care.

Working in partnership with your solicitor, we provide clear, practical guidance at every stage, helping to ease the burden and support you in making informed decisions, As members of the Institute of Professional Auctioneers & Valuers (IPAV), we are committed to delivering the highest professional standards, giving you confidence and reassurance throughout the process.

Probate (When There Is a Will)

Probate is the legal process used when someone dies having made a valid Will. It confirms the Executor’s authority to deal with the deceased person’s assets and ensures the wishes in the Will are carried out.

If someone dies without leaving a Will, their estate is dealt with through Administration. The court appoints an Administrator, usually a close family member, to manage and distribute the estate according to law.

A probate valuation is an official valuation of the deceased’s property. It must be provided to the Probate Office as part of the process.

A probate valuation is always required if the deceased owned property, whether or not the property will later be sold.

The property is valued as of the date of death, regardless of when the valuation itself takes place.

The Grant of Probate (if there is a Will) or the Grant of Administration (if there is no Will) is the legal document that allows the Executor or Administrator to collect the deceased’s assets and distribute them.

Beneficiaries are those entitled to inherit, either under the Will or under the rules of intestacy if there is no Will. Their details (including PPS numbers and information about previous inheritances) must be recorded. Beneficiaries may have to pay inheritance tax if the value of their inheritance exceeds the tax-free threshold.

Beneficiaries receive their inheritance once:

  • The Grant of Probate or Administration is issued,
  • All assets are collected, and
  • All debts, expenses, and taxes are paid.

In straightforward cases, this process typically takes 9 to 18 months. It can take longer if there are disputes or legal complications.

Inheritance tax, also called Capital Acquisitions Tax (CAT), applies if the value of an inheritance is over a certain threshold. The probate valuation is used to calculate whether tax is due and how much.

If an inherited property is sold for more than its probate valuation, the increase in value is subject to Capital Gains Tax (CGT).

How We Can Help

At Mark Kelly & Associates, we understand that dealing with probate can be both legally complex and emotionally challenging. Our role is to provide clear, professional support in handling property valuations and sales linked to probate or administration.

We work closely with solicitors, Executors, and Administrators to ensure the process is carried out smoothly, with accurate valuations and advice you can rely on. From preparing probate valuations to assisting with property sales, our goal is to ease the burden and give you confidence at every stage.

With our experience and membership of the Institute of Professional Auctioneers & Valuers (IPAV), you can trust that your case will be handled with the highest standard of professionalism and care.

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