Value the estate
List everything owned and everything owed.
Probate and inheritance tax both depend on this figure, and you have to be able to show how you reached it.
- How long it takes
- 2–6 weeks
- Typical cost
- Free, or £150–£400 for a formal property valuation
- What you need before you start
- Bank statements
- Property details
- Pension and insurance paperwork
Write to each bank, pension provider and insurer for the balance at the date of death. Most have a dedicated bereavement team and will not need probate to give you a figure.
Include the house, car, savings, premium bonds, shares and valuable contents. Ordinary household furniture is usually worth far less than families expect.
List debts too: mortgage, credit cards, loans, care fees, outstanding tax.
Keep every letter. You may need to justify the figures to HMRC.
General information, not legal advice. Last reviewed 19 August 2026 by Simon D Campbell. Applies to England and Wales.