How is the value of an intestate estate determined?

The value of an intestate estate, or estate without a will, is determined by the assets and liabilities that the deceased had at the time of their death. This includes any real estate, financial accounts, personal property, debts, and any other financial obligations. In California, the court appoints a personal representative to carry out the administration of the estate. The personal representative is responsible for collecting all of the assets and liabilities of the deceased and assigning a dollar value to them. This process is known as probating the estate. The court also assigns an appraiser to appraise the assets and liabilities of the estate. The appraiser determines their fair market value. Additionally, an accountant may be hired to account for any debts or taxes that the estate owes. These are often settled or paid out of the estate before the assets are distributed to the beneficiaries. Once all of the assets and liabilities have been assigned a dollar value, the estate’s value is determined. The total of the assets minus the total of the debts, taxes, and other obligations is the net estate value. This amount is then divided among the beneficiaries according to the intestate succession law in California.

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How is the value of an intestate estate determined?

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