Probate Valuation Of House Contents

I.T.G. provide clear and accurate probate valuation & IHT valuations reports of house contents (Chattels) in accordance with HM Revenue and Customs guidelines.

I.T.G. probate or confirmation valuation provides a range of services to assist in the winding up of an estate. We provide our services to private individuals, solicitors, executors & administrators across the UK. Our aim is to make probate valuation as stress free as possible.

Probate Valuation Of Chattels: Deeds Of Variation

Saving Inheritance Tax either immediately or upon the beneficiary’s death. For those who inherit and are already wealthy, the gift could mean a second lot of Inheritance Tax payable upon death. Therefore many would prefer to pass on the gift to someone who is in need of it and does not already have an IHT to pay. If the beneficiary inherits and then transfers the gift to someone else without a Deed of Variation, then there will be further IHT to pay if they die within 7 years.

Probate Valuation Of Chattels: Wills and Inheritance Tax

In simple terms, Inheritance Tax or IHT is a tax that applies to transfers of value. This means that technically, IHT applies to everybody and all gifts or transfers of assets that are carried out. Upon death, your estate is gauged for Inheritance Tax. IHT has to be paid off before the estate is distributed to the beneficiaries. If the tax is not settled, then the entire estate is frozen until the money is raised to pay off the tax bill.