Property Valuation for Probate - A Step by Step Guide
Probate can be best described as a set of procedures that are used in winding up of matters and the distribution of assets in an eventuality of the owner’s death. There are legal as well as financial processes involved in the probation of estate, which may include money, property or any other possessions of the deceased in question. Why is the valuation of property important? Usually, the biggest asset for any person would be the collective property he/she owns. In case of death of the owner, accurate estate valuation becomes very important in order to ensure the proper property distribution amongst the beneficiaries. In the absence of a formal will, the procedure becomes absolutely essential. Also, as part of the probate process, the Administrator or the Executor must complete the inheritance tax return subjected to the applicability. Valuation of the property is required in order to process the same. In case you require