How is the value of an intestate estate determined?

The value of an intestate estate in Georgia is determined by the Fair Market Value (FMV). FMV is the amount of money that a typical buyer would pay for the estate, which takes into consideration any liens or encumbrances on the estate, as well as any improvements made by the deceased. The FMV should not include any debts or taxes that the deceased had prior to their death, which must be paid out of the estate before any assets are distributed to beneficiaries. The FMV is usually determined by an independent appraiser. The appraiser will review all documents such as tax returns, bank statements, real estate titles, investment portfolios, and other assets that make up the estate. The appraiser will also consider current market conditions, including the area’s housing values and other assets’ prices at the time of the deceased’s death. The value of the intestate estate will also take into account the deceased’s specific assets and liabilities. Unique or rare assets, such as a valuable collection, may be worth more than its current market value and can be included in the appraised value. Once the appraiser has determined a fair market value, the estate’s executor will use this value to determine the amount that each beneficiary of the intestate estate should receive.

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How is the value of an intestate estate determined?

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