Valuation for the purpose of estate distribution in the case of inheritance or gift.

Valuation for estate distribution in case of inheritance or gift.

The death of a loved one is an emotional event. In addition to all the emotions, there is a lot coming at you. There are many things to be taken care of that you have never faced before. After the initial grief and funeral, the deceased’s possessions must be distributed to the next of kin. Are there more heirs and do you want to know the value of the house to determine the amount of your inheritance? An estate valuation for inheritance or gift then offers a lot of clarity and allows this process to go more smoothly.

If you receive an inheritance or gift, you will probably have to pay gift or inheritance tax. To determine the amount of tax you must pay, the value of the gift or estate must be determined. Special rules have applied to the real estate belonging to this since 2010. For residences, the WOZ value on the assessment notice in the year of death or of the gift applies.

As a result, gift and/or inheritance tax appraisals have become specialist work. To calculate the inheritance tax of a purchased house, you must enter the WOZ value of the house from the previous year on your tax return. If the WOZ value is too high in your opinion, you must first request a WOZ assessment in your own name. After receiving that decision, you can file an objection with the municipality where the house is located.

Jussen Taxaties will prepare a valuation report for you that you can use for gift and inheritance tax and, if you wish, as an appendix to objection and appeal proceedings against the WOZ value determined by the municipality.