No, not all estates in Australia require probate. Whether probate is needed depends on factors such as the size of the estate, the type of assets involved and the requirements of financial institutions holding the deceased’s assets. Each case is different, so it’s advisable to [...]
The duration of a probate valuation varies depending on the complexity of the estate. In addition, factors such as locating all assets, obtaining professional valuations and dealing with legal or tax considerations can influence the timeline.
For probate purposes, a property must be valued at its open market value as of the date of death. This assessment is conducted by a WBP qualified property valuer to ensure accuracy and compliance with legal requirements.
When handling probate, the following assets typically require valuation: ● Real Estate – This includes houses, apartments, land and commercial properties. ● Bank Accounts & Financial Investments – Savings accounts, current accounts, stocks, bonds and other investment portfolios. ● Personal Possessions – Vehicles, jewelry, artwork, [...]
The executor of the will (or the administrator if there is no will) is responsible for arranging a probate valuation. Executors may appoint professional valuers, estate agents, or chartered surveyors to assess property, assets and valuables to ensure an accurate valuation.
