Third party disclosure in IHTA claims

Valuation, the divorce cross-check and commercial confidentiality

Alexander Drapkin

Practitioners handling substantial Inheritance (Provision for Family and Dependants) Act 1975 ("the 1975 Act") claims will be familiar with the need for accurate valuations of estate assets. The issue is even more acute where the estate's principal asset is a private company. In the present case, not only was that true but the probate valuation was outdated and unreliable, with the company controlled by family members (with their own interests), reluctant to provide the information necessary for a proper valuation. The question arose: could the court compel disclosure from the company to enable proper valuation, or did the parties have to proceed with inadequate information?