Probate query please

[jane k]

I have found 3 relatives in Ancestry`s Probate records - one says `Effects under £1500`, one `Effects under £3000` and one `Effects under £9000` - they are for deaths in the 1860s & 1870s. But what exactly does this mean? What relevence do these amounts have to the amount of money which was actually left? I have sent off for one of the wills but this does not tell me any more.

Any help would be much appreciated Jane

 

[sospiri]

The value of the 'effects' is the value of the deceased's estate after deduction of any outstanding liabilities. It will include the value raised by any insurance policies as well as property and personal effects.

Of course, it may well be that the liabilities exceed the assets!

Maurice

 

[jane k]

Thanks Maurice - I can`t find out why these records all have nice round numbers for the value of the effects - think I need to search out an expert on old wills!

jane

 

[sospiri]

Simply because assets need to be valued, Jane, and the valuer (in most cases an executor or relative) was more inclined to say 57 pounds rather than 56.19.7d - sorry I have a Greek keyboard without an easily accessible pound sign!

Here's a list of all my LONGMORE Wills and Admons - some of them do have shillings and pence. It just depends on who did the valuations:- https://www.msheppard.com/wills.htm

Maurice

 

[leslam]

I read (but at the moment, I can't remember where!) that until a certain date the value of the effects were simply grouped as "Effects less than....". There were several thresholds.
After that particular date, the amounts were specific. I'll try to remember where I read it and update this later....