After a death where assets are involved, the property is often the biggest asset that needs correct valuing for inheritance tax purposes. Many properties may take an ‘estate’ over the inheritance tax threshold on their own, without consideration of other things.
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 a grant of Probate.
Carpenter Surveyors undertake valuations on behalf of the nominated estate representative, ensuring that the process is completed correctly and that the Inland Revenue is satisfied that the estate has been managed and reported on correctly.
Our surveyors provide accurate reporting in a prompt manner and can liaise directly with your legal advisors where required. We also undertake retrospective valuations if the date was some time ago.
As our surveyors are local experts we also know which local estate agents we consider best placed to serve you should you wish to sell. We can explain the differences of using a local estate agent, online agent or auction service.
We are here to help you through this stressful period, providing you with trust and confidence to embark on the sales process.
The Royal Institution of Chartered Surveyors is a professional body that accredits professionals within the land, property, construction, and infrastructure sectors worldwide.