Dealing with probate can feel overwhelming, especially when chattels, antiques, or collections are involved. At FEAC Legal, we provide HMRC compliant probate valuations for Kenton families, solicitors, and executors. Whether you’re handling a simple estate or a large rural property, we offer sensitive, timely, and accurate valuations across Devon.

How Does It Work?

Step 1: Book Your Valuation

For a personal quote or to book a probate valuation service, please get in touch with us.

Phone: 07984 733931

Email: admin@feaclegal.co.uk

Step 2: Schedule Your Valuation

Once your appointment is confirmed, our team of professional valuers will arrive promptly at 9:00 AM on the scheduled day. They will conduct the valuation thoroughly and take the necessary time to ensure an accurate and comprehensive assessment.

Note! We can collect keys if you are unable to attend the property, or, you can post them to our head office.

Step 3: Receive Your Report

Once the valuation at your property is complete, our valuers will return to head office to prepare a detailed probate report. This report will be finalised and emailed to you in PDF format within 5 working days of your initial appointment. You can then print and distribute as many times as needed to the appropriate parties.

Our Probate Services In Kenton

• Full chattels and household contents valuation for probate and inheritance tax
• HMRC Inheritance tax compliant documentation.
• Asset recovery service included.
• Flexible key collection and postal services for clients unable to attend in person, including those abroad or with busy schedules
• We can also offer full house contents clearance.

Why Choose Us?

• We are a family run business who have been operating for over thirty years.
• Our expert valuers have constant training in antique, fine jewellery, and specialist items. Making them the most knowledgable and best in the business.
• We cover the whole of the UK and Scotland.
• We work closely with over eighty solicitors throughout the UK.
• We have never had a report rejected by HMRC.
• We offer transparent, competitive pricing with no hidden fees.

Ready To Get Started?

Contact us today for probate and chattels valuation in Kenton and across Devon.
Call 07984733931 or email admin@feaclegal.co.uk.

What Are the Key Differences Between Probate and Inheritance Valuations?

Many executors, beneficiaries, and solicitors use the terms probate valuation and inheritance valuation interchangeably—but they are not the same. Each valuation type serves a different legal purpose, follows different standards, and is used at different stages of estate administration. Understanding the distinction is essential for avoiding HMRC errors, legal complications, and disputes between beneficiaries.

With more than 12 years of specialist experience and a flawless HMRC acceptance record, FEAC Legal provides both probate and inheritance valuations across England, Scotland and Wales. This article explains the key differences between the two valuation types, when each is required, and why choosing the correct one is vital for accurate estate administration.

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1. Purpose of the Valuation

Probate Valuation

A probate valuation determines the open market value of the estate at the date of death. This is a legal requirement for calculating Inheritance Tax (IHT) and completing probate forms such as the IHT400 or IHT205.

Its primary purpose is:

• Establishing the estate’s value for HMRC
• Ensuring accurate taxation
• Recording the full inventory of chattels
• Providing a factual basis for estate distribution

Inheritance Valuation

An inheritance valuation is used after probate, once assets are being transferred or distributed to beneficiaries. Its purpose is to determine the current market value of assets being inherited.

It may be required for:

• Capital Gains Tax (CGT) calculations
• Insurance purposes
• Updating estate accounts
• Establishing fair distribution values

Key Difference:
Probate valuations use date of death values.
Inheritance valuations use current values.

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2. Legal Standards & HMRC Requirements

Probate Valuation Standards

Probate valuations must comply with strict HMRC rules, including:

• Using open market value at date of death
• Full documentation and photographs
• Category-specific expertise
• Accuracy that can withstand HMRC scrutiny

Executors are legally responsible for ensuring compliance. Failure to meet these standards can lead to penalties or the valuation being rejected.

Inheritance Valuation Standards

Inheritance valuations are guided by financial and practical requirements, such as:

• Insurance valuations
• CGT assessments
• Fair distribution agreements
• Estate accounts

They do not replace or override a probate valuation but may supplement it.

Key Difference:
Probate valuations must satisfy HMRC standards.
Inheritance valuations are not part of the probate application process.

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3. Timing of the Valuation

Probate Valuation Timing

Must be carried out as early as possible in the probate process to:

• Complete IHT forms
• Draft estate accounts
• Comply with legal deadlines

Probate cannot progress without it.

Inheritance Valuation Timing

Usually carried out:

• After probate is granted
• Before asset distribution
• When preparing insurance arrangements
• Before selling inherited items

Key Difference:
Probate valuations occur before probate is granted;
Inheritance valuations occur after probate.

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4. Use of the Valuation in Estate Administration

How Probate Valuations Are Used

Probate valuations directly influence:

• Inheritance Tax calculations
• HMRC reporting
• Estate solvency assessment
• Distribution agreements
• Legal compliance for executors

How Inheritance Valuations Are Used

Inheritance valuations help beneficiaries understand:

• The current value of what they are receiving
• Whether items should be insured immediately
• Whether selling an item might trigger CGT
• Whether equalisation payments are needed

Key Difference:
Probate valuations serve HMRC and legal administration.
Inheritance valuations serve beneficiaries’ financial decision-making.

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5. Valuation Methodology

Although both involve expert assessment, the methodologies differ.

Probate Valuation Methodology

• Reflects market conditions at date of death
• Uses historical auction data relating to that period
• Avoids inflated or replacement values
• Must be justified with evidence

Inheritance Valuation Methodology

• Reflects today’s market conditions
• Evaluates whether values increased or decreased since death
• Uses current comparables and selling trends
• Helps beneficiaries understand real-time value

Key Difference:
Probate valuations are historical; inheritance valuations are contemporary.

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6. Impact on Taxation

Probate Valuation & Tax

Probate valuations affect:

• Inheritance Tax liabilities
• Deadlines for IHT payments
• HMRC compliance
• Potential penalties if undervalued

Inheritance Valuation & Tax

Inheritance valuations may impact:

• Capital Gains Tax when selling inherited items
• Insurance replacement values
• Reporting requirements for high-value assets

Key Difference:
Probate valuations influence IHT;
Inheritance valuations influence CGT and insurance.

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7. Who Is Responsible for Each Valuation?

Executor Responsibilities

Executors are legally required to obtain the probate valuation.
They must ensure:

• It is professionally completed
• It meets HMRC standards
• It accurately reflects date-of-death values
• No items are omitted

Beneficiary Responsibilities

Beneficiaries typically request inheritance valuations when:

• They receive high-value assets
• They want accurate insurance cover
• They plan to sell inherited items
• They need evidence for financial planning

Key Difference:
Executors require probate valuations.
Beneficiaries often require inheritance valuations.

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Why Professional Valuation Matters for Both Types

Using guesswork, online estimators, or DIY valuations puts both executors and beneficiaries at risk.

Professional valuations ensure:

• HMRC compliance for probate
• Accurate, defensible figures
• Category-specific expertise
• Correct tax calculations
• Transparent documentation
• Reduced disputes
• Protected executors
• Informed decisions for beneficiaries

With over 12 years of experience, FEAC Legal has never had a probate valuation rejected by HMRC—giving clients complete confidence in both valuation types.

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How FEAC Legal Supports Executors & Beneficiaries

FEAC Legal provides:

• HMRC-compliant probate valuations across the UK
• Current-market inheritance valuations
• Specialist appraisers in antiques, jewellery, watches, militaria, art, silver, collectibles and household contents
• FREE asset recovery for estates
• Full documentation suitable for solicitors and estate practitioners
• Optional house clearance services
• Support for executors completing probate and tax forms

Whether you require a date-of-death valuation or a current-market inheritance valuation, FEAC Legal delivers accuracy, professionalism and complete compliance.

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Contact FEAC Legal

Email: admin@feaclegal.co.uk
Phone: 07984733931

To make an enquiry or request a valuation, please contact us.