How to Inventory and Value Estate Assets During Probate

Before anything is distributed or debts are paid, the estate’s assets must be inventoried and valued. This step is essential—and often time-consuming.

💼 What Counts as an Estate Asset?

• Real estate
  

• Bank and brokerage accounts
  

• Vehicles, collectibles, and valuables
  

• Business interests and intellectual property
  

• Personal belongings (yes, even grandma’s wedding ring!)
  
  

📊 How to Properly Inventory

Create a detailed list that includes:

• A description of each item
  

• Location
  

• Ownership type (sole, joint, trust)
  

• Estimated value
  
  

💸 How to Determine Value

• Use bank or brokerage statements
  

• Get professional real estate appraisals
  

• Use online valuation tools (for cars, jewelry, etc.)
  

• Hire experts for art, antiques, or specialty assets
  
  

🚫 Mistakes to Avoid

• Don’t rely on rough estimates
  

• Don’t forget out-of-state or digital assets
  

• Don’t skip documentation—the court will want proof