Probate & Deceased Estate Valuation Sydney
What is a Probate Valuation?
A probate is a Court Order that confirms the executor of the will (or the administrator) has permission to distribute the deceased’s assets and property. It also confirms that the last will and testament are valid. A probate/deceased estate valuation in Sydney is necessary so that the Supreme Court of NSW can grant you probate.
When applying for a grant of probate, you must be able to provide supporting documents. One of these documents will be a probate valuation, also known as a deceased estate valuation. The valuation report serves as evidence confirming the deceased estate property value.
When and Why do I need a Probate Valuation?
A probate valuation will need to be conducted as early as possible. As the valuation is a part of the application of the grant of probate, the executor will need the report ready as soon as they can. Once you have applied for probate it is normally a 14 day wait before you are notified that the probate has been granted.
Our deceased estate valuers can send your valuation report within 3-5 business days of inspection. This of course will depend on the size of the estate and if it involves multiple properties. If the deceased had owned a part of a property, that share will need to be valued. The other owner/s of the shared property may be given full ownership of the property, or it could be further divided or transferred to another person. In either case, it is imperative to know the exact value.
Valuations for probate can be useful in preventing property disputes, of course, this is not certain. It is very common for deceased estate and probate property settlements to cause disagreements amongst beneficiaries. These situations tend to attract opportunists who feel they are more entitled to the deceased’s property despite what is written in the will. In these such cases, you may require a family law property valuation which is an appropriately formatted document suitable for use in Court.
Often it is not until months or even years later that the beneficiaries may learn the true value of the property. Fortunately, deceased estate valuations can be backdated to the “Date of Death” for those that feel an injustice has been done. Our valuers can confirm fair market value at any specific date.
Sydney Probate/Deceased Estate Valuers
Valuations NSW is an independent valuation firm that has been trusted by thousands to conduct deceased estate valuations since 1997. Unlike other firms, we can provide valuers all throughout NSW that have over 20 years of experience. We have Certified Practising Valuers (CPVs) available from Newcastle to Wollongong, the Sydney CBD to greater south-western Sydney, no matter where you are in NSW, we can help you connect with your local valuer.
For more information or to request a free instant quote for a deceased estate valuation, please don’t hesitate to contact our staff. We’ll assist in every way we can to make this process as easy as possible. You can contact us by filling out our online contact form or calling us at (02) 8599 9863.