What is a probate (chattels) valuation?
One of the primary duties of an executor (or administrator) of a will is to value the estate, including the deceased’s goods and chattels. (The possessions contained in a property which are not part of the fabric of the building.) As an example, the furniture would be a chattel, whereas, generally, the radiators which are fixed to the walls are not. As part of the winding up process, an executor will be required to provide an estimate of the total value of all the chattels, so that tax liabilities can be correctly assessed.
