Valuation of life/reversionary interests

If you decide that you would like to consider instructing Actuaries for Lawyers to assist you in a case involving the valuation of life/reversionary interests, the process by which this would take place is usually as follows:

Stage 1

Send in a letter of instruction stating the type of calculation that you wish to be performed and specifying the assets that are relevant and the parties’ interests in the assets.
The calculations and issues that you require to be covered and the date at which the calculation is to be done need to be set out clearly in the letter of instruction. We would also usually require copies of the following documents:

  • Chronology of events leading to the asset or Trust being set up
  • Copies of Trust Deeds or Will
  • Most recent asset statement and valuation including Rental Value for a Property

Stage 2

We will write back to you to confirm the issues to be covered in a report. We would also confirm the cost and expected timescale to prepare a report.

Stage 3

If the case is to be a single instruction you need to check that your client is happy with the scope of the report, cost and timescale as outlined in the Actuaries for Lawyers’ letter. If the case is to be a joint instruction the above also needs to be agreed with the firm of solicitors acting for the other party or other organisation. You then need to write back to Actuaries for Lawyers confirming that you wish to proceed with the preparation of a report as outlined above.

Stage 4

Once confirmation of instructions has been received, we will commence any further data collection needed for the report to be prepared. The report will then be completed and sent to the instructing parties in due course.

A copy of sample draft letter of instruction is included below to help you here if required.

Draft Letter of Instruction