How is the value of an intestate estate determined?

The value of an intestate estate in Utah is determined by a few different factors. Firstly, all debts and obligations associated with the deceased must be paid. This includes things such as funeral costs and medical bills. The value of the estate is then determined by subtracting these costs from the total assets of the estate. Assets in an intestate estate include any money owed to the deceased, such as wages, life insurance proceeds, bank accounts, stocks, and real estate. In addition, the value of the estate must also be determined by its current market value. This means that the value of any real estate, stocks, or other assets must be assessed according to their current selling prices on the market. The remaining assets are then divided among the heirs according to the laws of intestate succession. Each heir of the estate will receive a portion of the remaining value that is determined by the number of heirs and their relationship to the deceased. For example, a spouse will typically receive the largest portion of the estate, followed by the children. The value of an intestate estate in Utah is ultimately determined by a combination of all the debts that must be paid, the current market value of the assets, and the laws of intestate succession. These factors come together to determine how much each heir of the estate will receive.

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How is the value of an intestate estate determined?

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