Bainbridges specialise in PROBATE VALUATIONS. These are necessary when dealing with a deceased estate.
The Capital Taxes Office require that, along with the rest of a deceased's assets, the contents of their properties are valued as at the time of death.
To comply with S. 160 of The Inheritance Tax Act 1984 all specific bequests mentioned in the will, or in a codicil to the will, need to be valued individually, whatever their worth, and individual items or a collection of items valued at or above £500 need to be listed separately. The Capital Taxes Office like jewellery to be valued separately. Items of lower value might be grouped as a statement. However, antiques will be kept separate from general effects. Motor cars need to be valued separately also.
The valuation is set at open market prices as at the time of death.
Bainbridges conduct valuations at all levels using in-house and consultant valuers. Our highest prices at auction have all come to us via probate valuations. That includes the £5,000 thimble we discovered during a probate valuation on the banks of Lake Como. Yes, we travel anywhere to conduct valuations.
Bainbridges will value the contents of the humble home as well as the castle.
(Some years ago we valued the contents of Up Down Court in Surrey. That property is presently for sale at £70 million!)
For valuations for INSURANCE and FAMILY DIVISION may we direct you to our consultant valuer, Luan Grocholski. Please phone him direct on 0207 226 8806