What is the value of an estate?

An estate is the combined value of all assets owned by a person at the time of their death. This includes all real and personal property, such as a house, land, investments, bank accounts, cars, and jewelry, as well as any debts owed to them. In Georgia, the value of an estate is determined by taking a complete inventory and calculating the fair market value of all assets owned. The probate process is a court-administered system of distributing an estate according to the decedent’s wishes. In Georgia, the probate court oversees the estate, including any disputes among beneficiaries, and issues a finding as to the value of the estate. This usually includes the fair market values of all assets as well as the payment of any debts or taxes before assets are allocated to the heirs. When it comes to calculating the value of an estate in Georgia, a qualified attorney should be consulted to ensure that the process is handled correctly and the values determined are accurate. Additionally, if the decedent had a will, it is important to work with a lawyer to ensure that the will is properly interpreted and that all assets are distributed in accordance with the decedent’s wishes.

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What is the value of an estate?

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