How do I estimate the estate value?
  • Include all property (real estate and personal property) that was in the decedent's name alone at the time of his/her death.
  • Include tangible personal property as well as intangible assets (e.g., stocks, bonds, etc.).
  • Do not include property held jointly with a
    • right of survivorship
    • property payable to a named beneficiary
    • assets with a payable on death (POD) designation (e.g., life insurance policies with a named beneficiary or bank accounts with a joint co-owner or POD designation should not be included).
  • Estimate the fair market value of the assets as of the decedent's date of death.
    • DO NOT DEDUCT debts owed, loans, or mortgage amounts.
  • Compute separate totals for personal property and real property.

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1. What should I do if I need to probate a will and/or qualify as personal representative (Executor/Administrator) of an estate?
2. How do I estimate the estate value?