What possessions need to be valued for probate?

A probate appraisal must cover every item of tangible and financial property the deceased owned outright, valued at fair market value as of the date of death.

Probate courts require a complete, itemized inventory before an estate can be settled, so nothing of meaningful value should be left off the list. The categories that most commonly require a professional valuation include:

• Household and personal contents: furniture, decorative arts, rugs, and general household goods, especially pieces that are antique, designer, or otherwise above ordinary replacement value
• Fine art and collectibles: paintings, sculpture, prints, coins, stamps, and similar collections
• Jewelry and watches: fine jewelry, estate pieces, and luxury watches, which often carry values that surprise heirs and executors alike
• Vehicles: automobiles, motorcycles, boats, and recreational vehicles owned individually by the deceased
• Equipment and tools: business, agricultural, or shop equipment owned by the deceased or a sole proprietorship
• Electronics and appliances: items with resale value beyond simple household use

Cash, bank accounts, securities, and real estate also belong in the probate inventory, but those are typically valued from statements and closing figures rather than a physical appraisal. Personal property is different: it needs a qualified appraiser's eye to establish a defensible fair market value, since there's rarely a receipt or public price to point to.

A probate appraisal from our team documents each asset's condition, description, and value in a single USPAP-compliant report, giving the executor one document that satisfies the court, the IRS, and any heirs who want to see how figures were reached. If you're not sure whether a particular item needs a formal appraisal, it's worth including it in your initial request for an appraisal so we can advise on scope before work begins.