If you are the Administrator of a person who had died intestate you may find yourself position of having to value the assets of that person.
Assets are anything that has a value, such as:
- money in the bank, building society or savings accounts
- houses and land, including farmland
- investments such as stocks and shares
- businesses, or business assets, owned by the deceased to include a business partnership of which they were a member
- personal belongings to include jewellery, antiques and other collectibles
- any furniture, fixtures and fittings in a house
- any motor vehicles
- any pensions that include a lump sum payment on death
- payouts from life insurance policies
- foreign assets held abroad including foreign bank accounts, property or shares
You must remember that if the value of the property comes to in excess of £325,000 it is likely that you as the administrator of the estate will have to deal with the payment of inheritance tax.
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