When you are acting as an executor, one of your first practical tasks is putting together an inventory of the estate. That includes household items, personal belongings, and anything else of value that must be accounted for before debts are paid and gifts are distributed.
We all accumulate things over the years. Lofts, garages and under-stairs cupboards hold all sorts of gems (or clutter). It is not unusual for people to be unaware of the value of some items, with many surprises popping up when clearing a loved one’s house during probate.
Start With A Full Inventory
List furniture, jewellery, vehicles, collections, and smaller personal items room by room. Photographs and a simple description help later, especially if items need to be valued or sold. Keep the list with any valuations so the estate accounts stay complete.
While plenty of possessions are fit for the charity shop or merely hold sentimental value, some items may attract a tidy sum and add a significant amount to an estate.
Items That Can Be Overlooked
Look beyond the obvious. Collectibles, records, vintage toys, watches, and even everyday household goods can be worth more than the family expects. If you are unsure, a valuer can help you avoid selling something too cheaply or missing it from the estate altogether.
Once the inventory is in place, you can move on to settling debts, taxes and the rest of the executor’s duties. Our Grant of Probate service can support you if the estate also needs a court grant.
Contact Letter of Administration for professional will and probate advice on 020 3985 9555.