Probate valuations – stocks and shares
When executing a will, valuing assets can often be straight forward – until you have to undertake probate valuations for stocks and shares.
Property, belongings and savings valuations can be undertaken by an estate agent, an auctioneer or even the executors themselves. It is worth remembering however, that expertise is usually required, in order to receive an accurate valuation. Executors may be held personally liable, if HMRC feels that a valuation is incorrect and launches an investigation.
For this reason, some knowledge of stock and share valuation is preferable. Don't try and guess a valuation. Instead, use an experienced advisor or company, who will review the Grant of Probate and original share certificate or statement before giving you a final and accurate valuation of the deceased's specific stocks or shares in any given instance.
If you are looking for a reputable and experienced probate valuer who can do this for you, IWC Ltd will be more than happy to introduce you to a member of our network who can be relied upon to submit an accurate valuation.
With the inheritance tax threshold frozen at £325,000 until at least 2015, more of us are likely to be caught in the HMRC net. It is important therefore, not only to minimise IHT liability but to avoid inheritance tax investigations.
The role of executor is not to be underestimated and it must be remembered that any mistakes could see you being held personally liable. Therefore, in order to ensure that probate is carried out correctly and without any undue delay, it is important that you see the advice of an experienced probate specialist if required.
One of the key tasks as an executor is to have the deceased’s property and assets valued as accurately as possible. This can of course become more difficult, depending on the complexity of the estate, as they may have offshore assets, savings bonds and property abroad.
By using the services of professional valuers for the various aspects of the estate, you will be ensuring that the probate valuations are as accurate as possible, and on paper, are least likely to attract the attention of the HMRC inheritance tax investigation team.
Remember that an inheritance tax investigation can add a substantial delay to the probate proceedings and could see you being held personally and financially liable for any significant errors made.