Wells: 01749 671172 | Chew Magna: 01275 333993 | Somerton: 01458 397000 | Auction Rooms: 01749 840770

Wells & Professional: 01749 671172
Chew Magna: 01275 333993
Somerton: 01458 397000
Auction Rooms: 01749 840770

 My solicitor has advised me that I need a formal Red Book valuation for Probate purposes rather than a market appraisal from an estate agent. Do I really need this?

A probate valuation is often required where the estate of the deceased is taxable and therefore a calculation of the value of the deceased's entire estate is required in order to assess the potential inheritance tax liability. Even if the estate isn’t taxable, a probate valuation may be required to prove this.

The executor of a will is responsible for ensuring that any Inheritance Tax due on the estate is paid correctly. If HMRC suspect that the Inheritance Tax has been miscalculated, it can have a serious impact on the estate, its beneficiaries and the executor(s). 

Often referred to as a ‘Red Book’ valuation, probate valuations have to be carried out by RICS Registered    Valuers who are regulated by the Royal Institution of  Chartered Surveyors (RICS). Killens have RICS Registered Valuers that can produce valuations which can comply with the strictest RICS standards.

A “Red Book” report is far more likely to stand up to any scrutiny than a standard “Market Appraisal.”  The report will go into detail on the background of a property and the valuer will carry out far more research. A Red Book report details how the valuation figure was calculated and puts the Executors in a much stronger position should the valuation be queried by HMRC.

We also work with property owners to provide comprehensive assessments and valuations for the purposes of estate planning – thereby helping clients  proactively reduce the tax burden for beneficiaries.

Whether you’re navigating the difficult probate process, or putting together your own estate plan, working with a professionally recognised valuer is the safest way to ensure you get a fair valuation and that you or your loved ones don’t pay any more tax than necessary.

My property is affected by a footpath. Is it possible to divert the footpath so that my privacy is  enhanced?

It is possible to apply to the highways authority who    usually process applications to divert public rights of way to improve land management, privacy or ease of use for the public. It is usually the landowner of the public right(s) of way in question who applies for a diversion. But, agents or tenants may apply on behalf of the landowner.

Costs vary across authorities. Orders are normally charged at an hourly rate and, as a guide, they can cost around £1500 to £2000.

When considering the new route, you should think about the difference in the length, any field boundaries that need to be negotiated and what kind of access would be required. If creating a new junction with a road, you will need to consider how safe it might be for the public to use compared to the existing junction.

Authorities have officers who will discuss the proposals with you. After these discussions, processing a diversion application involves checking that the proposal complies with the Diversion Order Policy, undertaking statutory consultation, construction, advertising and confirmation of the order.

A simple diversion can take 6 months. But, several things, such as third party interests and objections from the   public can delay the Diversion Order process.

I live next to a road that has been altered with the installation of a new roundabout with additional lighting. I am now experiencing more noise and vibration as well. Can I make a claim for compensation?

It may be possible to make what is called a Part 1 claim even though the highways authority didn’t directly affect your property by taking land. To make a claim you must own the freehold or leasehold interest and you mst own the property before the road was altered and when the works were completed.

 You can only make a Part I claim because of:

· noise

· vibration

· smell

· fumes

· smoke

· artificial lighting

· solid or liquid discharge on to your property

The first day for claiming compensation is a year and a day after the new or altered highway first came into    public use.

I live in an isolated location and BT are attempting to connect fibre broadband to my property. They have run the cable to a pole 20m from my property and there is a need to go under the neighbouring farmer’s land to connect to my house. The farmer is being difficult. Do BT have the power to make him co-operate?

Yes, the Telecommunications Code gives “operators” (such as Openreach) wide powers over private land. The operators do however have obligations towards the neighbouring landowner by paying a wayleave for the presence of the cable and for any damage caused during the works.

RICS Rightmove Zoopla Primelocation The Property Ombudsman