Dealing with a loved one’s estate can be both emotionally and physically overwhelming. One of the most important steps in this process is preparing their property for probate, especially ensuring all assets are correctly valued for your probate application. This guide will walk you through what to expect and how to make the process smoother.
Step 1: Locate the Last Will and Testament
Before anything else, you’ll need to find the deceased’s Will, if one exists.
This might be straightforward if the person was organised. But if the property is cluttered or if they were a hoarder, it may require a more thorough search.
Tip: Check through all paperwork, personal files, drawers, and safes.
If you find a Will, make sure to contact the named executors before proceeding with any part of the estate. If you need help finding up-to-date contact details, our team can assist.
Still no Will? Conduct a professional Will search using a trusted provider like Certainty to ensure one hasn’t been registered elsewhere.
Step 2: Identify All Assets & Liabilities
If you’ve been appointed executor (or are handling the estate), the next step is to create a full picture of the deceased’s assets and debts.
Start by searching the property for:
- High-value items – artwork, furniture, jewellery, or collectibles.
- Financial documents – bank accounts, pensions, ISAs, and investments.
- Utility bills – gas, electric, broadband, council tax.
- Mortgage statements – including redemption figures if applicable.
You’ll also need a RICS-certified property valuation, which determines the official value of the home for probate purposes. All valuable items should be professionally appraised for accuracy.
Step 3: Apply for the Grant of Probate & Pay Inheritance Tax
Once you’ve gathered all the estate’s details:
- Submit the estate valuation to HMRC.
- Pay any inheritance tax that may be due.
- The current threshold is £325,000.
- Apply for a Grant of Probate (or Letters of Administration if there is no Will).
If the estate is below the tax threshold, you can apply directly through HMCTS Probate.
Why Accurate Valuation Is So Important
Proper valuations ensure you pay the right amount of inheritance tax — no more, no less. Overestimating or underestimating can lead to costly delays or penalties later in the process. That’s why professional assessments are essential.
- You pay the correct amount of inheritance tax
- There are no delays or legal issues
- The estate is handled fairly and transparently
Feeling Overwhelmed? Let Us Help.
We know that handling probate property or administering an estate can be an exhausting time for most of us. Especially, if it is a loved one, or an estranged family member.
While hiring professional help isn’t a legal requirement, many families find that it lifts a huge burden and ensure the process is carried out correctly and without stress.
Whether you’d like guidance from one of our specialists or want us to manage the probate process, we’re here for you.
Get in touch today – We will treat your loved one’s home with the same care and respect we’d want for our own.
