How to Prepare for a Probate Valuation

Pete Liggins
March 9, 2023
Here we have documented some useful tips to help you prepare for a probate valuation and assist in making the process as smooth and stress-free as possible.

At Dawsons, we understand that the process of valuing an estate after a loved one has passed away can be a difficult and emotional time. However, it is essential to ensure that assets are accurately valued so that any outstanding debts or taxes can be paid, and beneficiaries receive their rightful share of the estate.

Here we have documented some useful tips to help you prepare for a probate valuation and assist in making the process as smooth and stress-free as possible:

Hire reputable probate valuers

Choosing the right probate valuer is crucial to ensuring that the process runs smoothly and efficiently. Look for a reputable company with experience in probate valuations.

Obtaining a professional appraisal is important for high-value items within the estate, such as art, antiques, and jewellery, as it will ensure that these assets are accurately valued. This can help to avoid any disputes between beneficiaries and can also provide a clear understanding of the true value of the estate. 

A professional appraiser has the expertise and knowledge to accurately assess the value of unique or rare items, something that is difficult to do without specialist knowledge and expertise. While it may be tempting to cut corners, a professional appraisal will provide peace of mind and also ensure that beneficiaries receive a fair share of the estate.

Please do contact us with any queries, if you are currently in the process of looking for a probate valuations provider, we are always happy to help.

Gather all necessary documentation

Once you have chosen a provider and have booked a valuation appointment, it is important to collate all relevant documentation in relation to the estate ahead of the appointment. This may include the death certificate, Will, any certifications relating to specific valuables, or insurance valuation documentation that may accompany certain assets. Having these documents readily available will make the valuation process much more efficient if the valuer needs to confirm any information.

Create an inventory of assets

Making a comprehensive list of all assets within the estate in need of valuing, including any jewellery, art, antiques, or any other kind of valuable possession, will speed up the process significantly. This inventory will help the valuer to identify and value each asset accurately and thoroughly, ensuring nothing has been missed.

Provide access to the property and physical assets

The valuer will typically need to visit the property to assess the value of its contents. Make sure you provide access to any areas of the property that require entry for the valuer to carry out their job fully. It is a good idea to try to clear as much clutter as possible from those areas and remove any obstacles to provide the valuer with safe and ease of access.

As experienced valuers, we understand that often items can be difficult to locate when it comes to probate, with the deceased sometimes tucking things away for safekeeping without informing anyone else of their whereabouts. Our professionals are extremely thorough and discreet in their practice and will do their best to locate and identify any valuables, at your request. However, and where possible, please ensure that any items requiring a valuation are displayed clearly, for example, taking items of interest out of drawers and cupboards if you know they are there and require the valuer to see them. 

Be prepared to answer some questions

During the probate valuation, the valuer may have questions about certain assets, and where possible, it would be helpful if you are prepared to answer these questions, and also provide any additional information or documentation that they may need. Of course, the valuer will not expect you to have an abundance of knowledge, they are the experts after all, but any information (especially in terms of provenance) you can provide would certainly be useful. 

Preparing for a probate valuation can seem like a daunting task, but by following these simple steps, you can make the process much more manageable. 

The Dawsons probate valuations team are committed to providing a compassionate and professional service to help you through this challenging time.

If you need assistance with a probate valuation, please don't hesitate to contact us.

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