I am currently going through the probate process after my widowed FIL recently died (Im doing this on behalf of DH who is the executor).
I have all the valuations for his home, bank accounts, investments etc and am nearly ready to complete the form myself (we are not using a solicitor).
However, Im stuck on what to record for the value of the contents of his home & personal effects. He was in his 80s & all the furniture is between 10 - 20 years old. They are all in good condition & from places like John Lewis etc but from looking online I don't think they will be worth much on the second hand market. How do I go about valuing it all for probate?
There is the usual clothes, sofas, a few occasion tables, display units, TV, dining table, 2 double beds etc. All white goods, wardrobes, desk are fitted so are part of the house when it will be sold. There are a lot of paintings (which FIL & MIL spend A LOT of money on new) but are worthless according to the local painting dealer who they bought them from as the artist is local, still alive & paints traditional scenes which isn't in fashion anymore). No jewellery, collectibles etc.
I have no idea how to do this as I think its all pretty much worthless & we intend to donate everything that is good quality but wont be able to sell any of it.
I want to do it properly & also make sure that probate goes through asap with little to no follow up queries from the probate office.
To complicate matters a little bit more, DH's brother has no mental capacity to manage any of this, or have any involvement in anything, but will receive half of the estate. He has no capacity to manage money & his money will end up being managed by a solicitor acting as a court appointed deputy (we do NOT want to do this for many reasons) so we also need to make sure that once the money has been distributed it wont lead to further questions about why we didn't do this, or didn't do that etc (despite us having to do it all with no help or support).
Can anyone advise how to work out a valuation for the contents of his home? Do I have to do it item by item? Does anyone ever check this?
Thank you