Deceased estate valuation A value for the estate.
A deceased estate report gives the market value of a property that belonged to a person who has died. Valufield drafts it from a template with a date of death version and a current date version.
A property, after a death.
What it is for
It gives the market value of the unencumbered fee simple interest, usually as at the date of death, sometimes at a current date to sell or divide the estate.
Who usually instructs it
Usually the solicitor for the executor or administrator, sometimes the executor or a family member. Accountants and tax or duty authorities may read it later.
Two versions
The date of death version is a retrospective valuation, so it uses past tense wording and states the condition assumed at that date. The current version says it is not a date of death value.
Purpose and date, then the property.
State purpose and date
The valuer confirms the estate purpose, such as probate, administration, distribution, capital gains tax or stamp duty, and whether the date is the date of death or a current date.
Estate context
Section 1.3 gives the market value definition and the estate context. It says legal, duty and tax treatment is for the estate’s advisers. A co-owned property is valued whole, with the share shown pro rata.
AI on descriptive parts
AI may suggest wording for descriptive sections only. The valuer accepts, edits or discards each suggestion. The value, rates, adjustments and sales evidence stay refused.
The estate stated, nothing more.
Purpose and date basis
The checker blocks a report that states no estate purpose, or does not say whether it values at the date of death or at a current date.
Dates match the wording
A valuation date before the inspection needs the date of death wording throughout. The checker blocks a past date written as a current value.
Nothing about the death
The checker blocks the cause or place of death, beneficiary names or shares, and an annexed death certificate, will or grant of probate.
No advice, peer review
The checker warns when the line saying the valuer gives no legal, duty or tax advice is missing. A second valuer peer-reviews a recorded file, and release is gated.
Straight answers.
Can the value be used for probate or tax?
The template states the estate purpose and the date basis. How a value is treated for probate, duty or tax is for the estate’s legal and tax advisers.
What if the property had co-owners?
The template values the whole property and shows the share pro rata. It applies no fractional interest discount unless the valuer was instructed to.
Are the templates signed off?
They are drafts for the principal’s review, NSW first. Keeping to professional standards and insurer requirements stays with your firm.
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