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Probate Valuation and Executor Guide

Administering the estate of a deceased friend or family member can be a stressful and overwhelming undertaking. DNG Galvin can provide the professional advice and support gained from over 40 years’ experience to help and guide you through this process.

Working through probate and performing the duties of an executor requires a degree of understanding and knowledge that we at DNG Galvin can assist you with. Our longstanding experience in this area, combined with our membership of professional bodies including the Society of Chartered Surveyors Ireland (SCSI) and Institute of Professional Auctioneer’s & Valuers (IPAV) means you can be assured that the advice we provide will be of the highest professional standard.

What is a Probate Valuation?

A probate valuation is a valuation required by the Probate Office as part of the process of proving the Will.

When is a Probate valuation needed?

Where the deceased person owns a property then a probate valuation is required, regardless of whether the property is to be sold or not.

How is Probate Valuation carried out?

One of our experienced Valuer’s will meet you at the property to assess it and provide you with a realistic market valuation.

What is the date of the Probate Valuation?

Irrespective of when the probate valuation occurs the valuer will give the property the value it had on the date the deceased passed away.

How can DNG Galvin help

Pre-sales Advice

On inspection our agent can provide advice on preparing the property for sale, obtaining a BER certificate and any works that should be carried out to increase the value of the property.

Property Check

By instructing us, we can arrange to have the property checked on a regular basis until the property is sold prior to going to the market.

Sales Advice and Negotiation

We will advise you, as the executor, of offers made by prospective purchasers. We will guide you on the strength of these offers and advise on the best course of action.

After Sales Advice

DNG Galvin will arrange access with bank valuers or surveyors and liaise directly with both solicitors, on your behalf, until the sale has been completed.

When do beneficiaries receive their inheritance?

The beneficiaries receive their inheritance once the Grant of Probate has issued, all assets liquidated and collected by the Executors, all liabilities (including inheritance tax) discharged. In straightforward cases, it takes between 9 months and 18 months to complete an estate and pay the monies to the beneficiaries.

Capital Acquisitions Tax (CAT)

CAT comprises inheritance tax. This tax is paid on inheritances received over a certain amount. The probate valuation is the value of the property used to work out whether inheritance tax may be owed and what amount might be due.

Capital Gains Tax (CGT)

CGT is the tax paid on the increase in price from the date of acquiring an asset to the sale of the same asset. If inherited property is sold and the price has increased from the probate valuation, the beneficiary will be liable to pay CGT on the difference.

For more information or to arrange a consultation contact us here

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