The Importance of an Inventory
Executors and administrators have to swear or affirm the following statement before they can get a grant of probate or letters of administration:-
We will when required to do so by the Court exhibit in the Court a full inventory of the said estate and render an account thereof to the Court.
In many years of practice I have never come across a situation where a Court required an inventory but you never know! A recent probate focused my mind on how valuable an inventory can be. The deceased was the kind of fellow who never threw anything away but, in his case, he accumulated not only rubbish but an immense number of valuable items. There are already rumblings of potential discontent amongst the beneficiaries so we decided to make a complete photographic inventory of everything to be found in the deceased’s house and this will be immensely helpful when it comes to division of the spoils. At Probaters we can provide an inventory service to both private and professional executors who may be faced with a similar situation or, for any other reason, want to minimize risks and have available a full inventory. If you would like to know more please do not hesitate to call us on 01273 789510.