Broker Check
How to Estimate Estate Value

How to Estimate Estate Value

May 31, 2022

The first step in how to determine estate value is valuing the estate at time of death. The Value at Death is used to determine cost basis and calculating estate taxes. A variety of factors go into determining the real value of an estate, and Naperville locals trying to sell an estate (and the large intertwining of assets encompassed in that term) are going to have to deal with the fact that the real value can change over time. Explore the factors in how to estimate estate value with IntentGen. 

How to Determine Estate Value: Value at Disposition

The time of sale or distribution of assets can be months or years after a death, and because of this, the value of the assets may change. Value at Disposition determines the income taxes if the asset is sold and calculates state inheritance tax to allocate to heirs in cases of distribution. 

How to Estimate Estate Value: Gross & Net Value

When it comes down to the nitty gritty of determining estate value, a lot of the calculations have to do with taxes. When assessing value for tax purposes and distribution, gross value (the sum of all assets) and net value (gross value minus any debts) help determine the distribution to heirs and executor compensation. 

How to Determine Estate Value: Overall Assessment

Ultimately, some things are easier to assess the value of than others. Bank accounts or public stocks, for example, can be pretty clear cut. Other assets are more difficult to assess and may have some variation, like: vehicles, collectibles, and real estate. In these cases, a professional appraiser may need to come in and determine the value. Determining publicly traded assets is simple - all Naperville and Chicago locals need to do is average the highest and the lowest selling price for an item on the date of death. 

Learn More About How to Determine Estate Value in Naperville

Ultimately, our efforts at IntentGen are aimed at aligning the priorities of clients in order to provide joy in daily life. A great way to do this is to plan ahead of time, and you can do that with our team. Optimize your personal finance goals in Arlington Heights, and have any of your questions answered with IntentGen, today!