How are assets valued for probate?

In Indiana, assets are valued for probate in several ways, depending on the type of asset and individual circumstances. The first step is to determine the decedent’s date of death and alternate valuation date (if applicable). Real estate assets are typically valued by the current fair market value on the date of death, so a real estate appraiser may be consulted to provide an opinion. Personal property like stocks and bonds are often valued depending on the market conditions on the date of death or the alternate valuation date. Bank and brokerage statements can also be used to identify value. Other assets like jewelry and artwork may require the services of an appraiser, who can provide an opinion of value. When valuing intangible assets such as patents, trademarks, or copyrights, the fair market value on the date of death will be used. The same may be true of business interests such as partnerships and corporations, though these assets can be more complex to appraise and determine value. As such, a professional appraisal may be necessary. To value any asset, a court-appointed appraiser may be consulted to provide an opinion of value or confirm the value of assets identified by the executor or personal representative. The appointed appraiser must follow Indiana probate law guidelines to ensure the asset values used in the estate are accurate.

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How are assets valued for probate?

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