What Needs To Be Valued?
All assets of the deceased person’s estate should be valued. If there is property involved that it is usual to obtain more than one valuation and for one of the valuations to be prepared by a RICS qualified Valuer. It is important not to guesstimate valuations as this could have Inheritance Tax and/or Capital Gains Tax implications further down the line. Every estate will be different but as a guide, the following will need to be valued:- Money in bank accounts
- Investments and shares
- Property and land
- Jewellery and personal items
- Life insurance policies that form part of the estate