The exact date when an asset is valued. An executor is often asked to report the appraised value of assets at the time of the passing which can present challenges if the market value is difficult to determine and may require appraisal services. For example, if the estate held 100 shares of publicly traded stocks it would be easy to determine the value at a given date based on historical stock market prices. Items with comparable market prices, like real estate and vehicles, can be reasonably estimated at the time of death. For an executor, the valuation date can be difficult for rare items like collectibles and art work that do not offer predictable market values.
What you need to know
What to do when a loved one dies
When people die, they leave behind a life that must be closed out. Don't tackle it all alone. From planning the funeral to tackling the legal & financial estate, here's an ultimate checklist of all the things an executor needs to do following the loss of a loved one.
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