What Is An Inventory And Appraisal?
What is an Inventory and Appraisal?
Inventory & appraisal is a probate document that lists all the assets and their values.
Other assets, like houses and cars, that are not considered liquid assets, will have to be valued by a probate referee.
So the executor or administrator will send the inventory and appraisal to the probate referee.
A probate referee is a third party appointed by the court.
The probate referee will fill in the non-liquid assets and their values, the executor or administrator will fill in the liquid assets and their values.
The completed inventory and appraisal will then tell you all the assets in the estate and their value on the date the decedent died.
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