Executor - Valuing possessions

Marjory

Just as a matter of interest how long should probate usually take if there is a house and shares involved. Anyone know?

agrinnall

Marjory wrote: »

Just as a matter of interest how long should probate usually take if there is a house and shares involved. Anyone know?

My experience dealing with my father's estate last year is that for probate all you need to provide is the value of the house and shares, once you've done that probate takes a few weeks (I think it was about 3 for me, depends how busy the probate office is, the solicitor we used sent it to an office that they knew had a light workload). The lengthy bit is after probate has been granted, getting shares sold or transferred - luckily the property was held jointly with my mum and his half was left to her so that was easily done.

getmore4less

Marjory wrote: »

Just as a matter of interest how long should probate usually take if there is a house and shares involved. Anyone know?

If on top of the valuations and an excepted estate then it can be very quick a few weeks.

If it requires a full estate return a bit longer because it needs HMRC to do their bit.

sonorman

Errata wrote: »

A description which says - Furniture, soft furnishings, domestic electrical equipment, household goods should cover it and unless it's all Queen Anne the whole lot is probably worth £100. Although you may find a house clearance firm will charge £100 to take it all away.

I split the contents into 2 sections. I removed everything of value, paintings, clocks, silver etc and placed them in a cupboard.

The house clearance people came in and quoted £150 for what they could see. I negotiated it down to £100. Then I showed them the 'good' bits and came to an agreement that they were worth £200.

So I ended up with an empty house, empty garage etc and £100 to go into the estate account.
The house clearance people weren't happy with what I did as I knew what they would have done and they knew that I knew.

Anyhow, a deal was a deal!