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I am an executor for my father's estate, which consists of a house and a substantial amount of shares, mostly in unlisted companies.
For probate we are valuing everything (with expert help when needed). However the time it has taken meant that some of these assets are now worth less, and some a lot less than the date of death.
I'm not concerned about revaluing for IHT purposes because they are mainly exempt (EIS shares held for 2+ years). But when distributing the assets to beneficiaires.should we revalue?
Also, one of the beneficiaires gets the house. Others get unlisted shares to an equal value to the house. I feel in distributing we should consider the shares at a lower value than we put on the probate form to take account of the risk they carry. Is that standard practice?
For probate we are valuing everything (with expert help when needed). However the time it has taken meant that some of these assets are now worth less, and some a lot less than the date of death.
I'm not concerned about revaluing for IHT purposes because they are mainly exempt (EIS shares held for 2+ years). But when distributing the assets to beneficiaires.should we revalue?
Also, one of the beneficiaires gets the house. Others get unlisted shares to an equal value to the house. I feel in distributing we should consider the shares at a lower value than we put on the probate form to take account of the risk they carry. Is that standard practice?
