Why Attorneys and Executors Need Professional Property Valuations
Valuations for Attorneys and Executors are a powerful and necessary tool. When settling a deceased estate or finalising a divorce, the property valuation plays a critical role. For attorneys, fiduciaries, and executors, a reliable valuation is a legal and financial necessity.
As a Professsional Associated Property valuer based in George, I’ll explain where and why professional valuations are essential, and what you should look for when instructing a valuer.
Table of Contents
Why Accurate Valuations Matter
Property is often the largest asset in a deceased estate or divorce settlement. Its value affects:
- Tax calculations (CGT, estate duty)
- Equitable distribution among heirs or spouses
- Sale or transfer processes
- Liquidation and debt settlement
If the valuation is incorrect or disputed, it can lead to:
- Delays in winding up the estate
- Legal challenges from beneficiaries or third parties
- Unfair asset splits in divorce proceedings
- SARS penalties or audits
That’s why relying on guesswork or municipal values is risky.
Common Scenarios For Valuations for Attorneys and Executors
1. Deceased Estates
An executor must submit an L&D (Liquidation and Distribution) Account to the Master of the High Court. The immovable property must be valued at its market value at the date of death.
Professional valuations:
- Ensure accurate reporting
- Avoid disputes with beneficiaries
- Assist in setting the reserve price if the property is sold
2. Divorce Proceedings
A fair division of assets depends on a neutral, market-based valuation — not an emotional estimate or what one party “thinks” it’s worth.
Using a valuer:
- Prevents future claims of bias
- Reduces legal friction
- Gives attorneys a solid foundation for negotiations or court submissions
3. Trust Administration
Trustees must act in the best interest of beneficiaries and often need formal valuations when:
- Selling or acquiring property
- Transferring assets
- Calculating tax obligations
A valuation demonstrates that decisions were made prudently and transparently.
4. Insolvency and Liquidations
If a company or individual is sequestrated or liquidated, assets need to be valued for disposal. A market valuation assists liquidators, attorneys, and the courts in determining a fair distribution of proceeds.
Municipal Values Are Not Enough
Attorneys often submit the municipal value out of convenience. But these values:
- Are often outdated
- Do not reflect true market value
- Can’t withstand scrutiny if challenged in court or by SARS
A professional valuation is more defensible, detailed, and based on recent comparable sales and market conditions.
What to Expect from a Valuation Report
When you engage a professional valuer for legal purposes, the report should include:
- Market value as of a specific date
- Description of the property and condition
- Photographic evidence
- Comparable sales and methodology used
- Signature and credentials of a registered professional valuer
For legal matters, I always tailor reports to meet the specific compliance and documentation standards required by courts or regulatory bodies.
Case Example: Estate in Dispute. Problem solved with Valuations for Attorneys and Executors
An estate attorney in George contacted me after a deceased estate was delayed due to conflicting property values. The heirs wouldn’t agree on the property values.
I performed a formal valuation, which was accepted by all parties, resolving the dispute and allowing the estate to proceed.
When to Instruct a Valuer
As a rule of thumb:
- Deceased Estates: As soon as Letters of Executorship are issued
- Divorce: Prior to or during asset disclosure
- Trusts or Insolvencies: Before any asset transfer or liquidation
Early valuation reduces delays later on and provides a professional foundation for all decisions.
Need a valuation?
A property valuation is about risk management, decision making, compliance, and transparency. Valuations for Attorneys and Executors are a powerful tool that can aid decision making and reduce conflict.
If you’re an attorney, executor, or fiduciary dealing with property assets, working with a registered professional valuer protects both your client and your reputation.
I offer confidential, legally compliant reports tailored to each case, with a quick turnaround and clear communication throughout.
Contact Claire King 0732324407
Don’t forget to follow us on Facebook!
Looking for more articles like this?
Agricultural Valuations For Estate Planning and Inheritance
Property Valuers For Estate Disputes
Property Valuation for Divorce Settlements
Valuations for attorneys and Executors
