Valuation disputes are one of the most common sources of tension in an estate — and one of the most stressful to be caught in. A house, a farm, a business share, or a piece of art rarely has a single obvious price, and two reasonable people can reach very different figures for the same asset. This guide explains the standard the law applies, what Revenue expects, and what to do when a figure is contested.
It sits within our wider guide to complex and insolvent estates in Ireland, and works alongside our practical walkthrough of how to value an estate for probate. Here we focus on the narrower question of what happens when the value itself is in dispute.
The standard: date-of-death market value
Market value is the best price an asset would fetch if sold on the open market. For an estate, every asset and liability is valued as at the date of death — the value on the day the person died, not the day the grant issues or the day the asset is later sold. This is the figure that must be entered for the estate.
Date-of-death market value is an objective standard, not a negotiating position. It is not the asking price an executor hopes for, nor a discounted figure to suit a family buyer, nor an old valuation from years before. It is what a willing buyer would have paid a willing seller on the open market on the date of death.
Because some assets have an obvious value and others do not, disputes tend to cluster around property, businesses, farms and significant personal items. The table below shows who normally provides each figure and the basis on which it is given.
House or land
An auctioneer, estate agent or valuer who inspects the property
Open-market value at the date of death
Bank and credit-union accounts
The institution, by written confirmation of the balance
Balance at the date of death, plus interest accrued
Shares and investments
The broker, fund manager or a market price on the date of death
Quoted or assessed value at the date of death
Business or farm
An accountant or specialist valuer
Market value at the date of death, often with reliefs to assess
Personal possessions, jewellery, art
A specialist valuer where the item is significant
Open-market value at the date of death
How estate assets are valued for probate. All values are taken at the date of death. Sources: Revenue, Citizens Information.
| Asset type | Who normally values it | Basis |
|---|---|---|
| House or land | An auctioneer, estate agent or valuer who inspects the property | Open-market value at the date of death |
| Bank and credit-union accounts | The institution, by written confirmation of the balance | Balance at the date of death, plus interest accrued |
| Shares and investments | The broker, fund manager or a market price on the date of death | Quoted or assessed value at the date of death |
| Business or farm | An accountant or specialist valuer | Market value at the date of death, often with reliefs to assess |
| Personal possessions, jewellery, art | A specialist valuer where the item is significant | Open-market value at the date of death |
What Revenue expects on the Form SA.2
The Statement of Affairs (Probate) Form SA.2 is the electronic return filed with Revenue as the first step in applying for a Grant of Representation — the court's permission to manage the estate. It records the deceased's assets — held solely, jointly and by nomination — and their liabilities, all valued at the date of death. Once submitted, Revenue generates a Notice of Acknowledgement (Probate).
The person who files the SA.2 gives an undertaking to submit an amended Statement of Affairs if a material error or omission later comes to light. A valuation that turns out to be significantly wrong is exactly the kind of error that triggers this obligation, so a defensible figure matters from the outset, not just at the point of dispute.
Date of death versus the CAT valuation date
Two different valuation concepts often get confused in a contested estate. The first is the date-of-death value, used to measure the estate as a whole on the SA.2. The second is the Capital Acquisitions Tax (CAT) “valuation date”, which fixes when an individual beneficiary's benefit is measured for tax and when their return is due.
Revenue defines a beneficiary's valuation date as the earliest of three points: the date the executor or administrator is entitled to retain the asset for you; the date it is actually retained; or the date it is given to you. In practice, this often falls on or around the date the grant issues — which is usually some months after the date of death.
This distinction matters in a dispute because people sometimes argue about the wrong date. The estate is valued at the date of death; a beneficiary's CAT is measured at their valuation date. For how the valuation date feeds into a beneficiary's tax position, see our guide to inheritance tax (CAT) in Ireland.
The executor's duty to value the estate accurately
The personal representative — the executor named in a will, or the administrator appointed when there is no will — is responsible for providing accurate values for the deceased's assets and liabilities at the date of death. This is not a discretionary courtesy to beneficiaries; it is a core part of administering the estate correctly.
The personal representative also has a duty to preserve the estate's assets until they are distributed and to protect them from devaluation — for example, by keeping property properly insured. A beneficiary is entitled to expect both an accurate valuation and reasonable care of the assets while the estate is being administered.
There is also a timing duty. The personal representative is expected to distribute the estate as soon as possible after the death. Beneficiaries can take legal action if the estate is not distributed within a year — a period often called the “executor's year”. Valuation disputes can stall an estate, so resolving them promptly is in everyone's interest. If you suspect an executor is acting in their own interest, see our guide to executor self-dealing in Ireland.
What a beneficiary can do if they think a valuation is wrong
If a figure looks wrong, the path forward is usually practical rather than legal. Most valuation disputes are resolved by getting a better figure, not by going to court. The steps below run from the simplest action to the most serious — work through them in order before considering escalation.
How to deal with a disputed estate valuation
Work through these steps in order. Most disputes are resolved before the final step.
Ask how the figure was reached
Ask the executor or administrator for the figure they have used and the basis for it. A bank balance is fixed and easy to confirm. A property or business value is an opinion, so ask whether it came from a professional valuation, a rough estimate, or an asking price. You are entitled to understand how the estate has been valued before it is distributed.
Check it reflects the open market at the date of death
Revenue requires the date-of-death market value — the best price the asset would fetch if sold on the open market on the day the person died. A figure based on a quick sale, a favour to a family member, or a years-old valuation is not date-of-death market value. Identify exactly which date and which basis the disputed figure rests on.
Request a professional valuation
For property, a written valuation from an auctioneer or chartered valuer carries far more weight than an estimate. For a business, farm, or significant personal items, a specialist valuer is appropriate. A professional valuation gives everyone a clear, documented basis to work from — and is much harder to challenge than an informal guess.
Get a second valuation if values still diverge
Where one valuation looks too high or too low, a second independent valuation often resolves the gap. Two professional figures that broadly agree are difficult to challenge. Where they differ materially, the executor and beneficiaries can agree to split the difference or commission an agreed third valuer.
Take legal advice before escalating
If the figure cannot be agreed and you believe it materially affects what you inherit, take legal advice. A solicitor can write to the executor, review the valuations, and advise whether the dispute is genuinely about value or about something else — such as how the executor is administering the estate.
When a valuation dispute becomes contentious
Most valuation disagreements never reach a courtroom. They are settled by a second valuation, an agreed third valuer, or a negotiated figure between the executor and the beneficiaries. Litigation over value is slow, expensive and uncertain, and the cost can easily exceed the amount in dispute.
Where a beneficiary believes a grant should not issue — for example because of a wider problem with how the estate is being handled — a person can lodge a caveat in the Probate Office to oppose the grant. Under the court rules a caveat remains in force for six months and may be renewed. A caveat is a serious step that can lead to contentious probate proceedings, so take legal advice before lodging one.