Understanding Probate Valuations
Understanding Probate Valuations
Probate is a legal process that happens after someone dies. It confirms the validity of their will and gives their executor the legal authority to administer the estate. Applying for the grant of probate requires a valuation of assets to calculate inheritance tax. When probate is granted, and any debts and taxes have been paid, the estate will be divided among the beneficiaries according to the terms of the will.