How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask JGM Your Own Question
JGM
JGM, Solicitor
Category: Law
Satisfied Customers: 11695
Experience:  30 years as a practising solicitor.
31090051
Type Your Law Question Here...
JGM is online now

Probate. When is it necessary to get a professional valuation

Customer Question

Probate. When is it necessary to get a professional valuation of the goods and chattels in the home of the deceased

In our case the solicitor advised putting a value of £1600 into the confirmation since there were no items of significant value (over £1000). My brother is now contesting this and asking for a professional valuation. I am concerned that the cost of the valuation will exceed the value of the goods
Submitted: 4 years ago.
Category: Law
Expert:  JGM replied 4 years ago.
Thank you for your question.

It is the executor's decision as to whether a valuation should be instructed. The executor has a duty to maximise the estate for the benefit of the beneficiaries. If a valuation would exceed the value of the goods then common sense would dictate that the cost of the valuation should not be incurred.

There is no law that says that a valuation must be done as long as a reasonable and common sense value is ascribed to such items. Confirmation to an estate is routinely granted without formal valuations of de minimis items such as household furniture and other goods. If the goods are being sold then their value will become apparent at that stage.

Please leave a positive response so that I am credited for my time.