How Do You Value Personal Possessions For Probate?

How do you value personal possessions for probate?

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Min Austria
Assistant at Ascent Law LLC

When someone dies, their estate goes through a probate process. The executor (sometimes called the personal representative) is in charge of gathering up the deceased person's assets and distributing them according to their will. Probate isn't especially complicated, but it does require some paperwork and legal knowledge.

The will names the executor and may also name a backup executor or successor executor. The executor typically receives instructions from the deceased person on how to value their assets for probate purposes. If there is no will, then state laws determine how the assets are valued. These laws differ from state to state and can be found online. But the main thing to know is that when you list an asset for probate purposes, you need to assign a monetary value to it, even if you don't plan to sell it right away.

If you have any questions or need a Asset Protection Lawyer, please call this law firm for a free consultation.

Ascent Law LLC

8833 S Redwood Road Suite C

West Jordan UT 84088

(801) 676-5506

Utah Lawyer for Divorce Business Bankruptcy Probate Estates
Ascent Law helps you in divorce, bankruptcy, probate, business or criminal cases in Utah, call 801-676-5506 for a free consultation today. We want to help you.
https://www.ascentlawfirm.com

Location: Heber City, UT 84032, USA

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