Who appraises the property in a Rhode Island probate inventory?
The executor or administrator, by default. Under R.I. Gen. Laws 33-9-4 the property in the inventory is appraised by the fiduciary, but on the petition of any party in interest the probate court may appoint one or more appraisers, who take an oath to perform the duty faithfully. Fiduciaries who want to avoid that petition file with independently supported values from the start.
What inventory does a Rhode Island guardian have to file?
An inventory and appraisement of all the ward's real and personal property, under oath, within 30 days of appointment or a longer time the probate court allows, under R.I. Gen. Laws 33-15-19. For assets the ward holds jointly with someone else, the appraiser must state on the inventory the basis for counting all, none, or a portion of the value, a detail our guardianship reports address item by item.
Can the Rhode Island tax administrator re-appraise an estate?
Yes. Under R.I. Gen. Laws 44-23-5, if the tax administrator considers the filed statement of the decedent's property erroneous or incomplete, the administrator may appraise the property at its full and fair cash value, with power to subpoena witnesses. Filing with professionally supported values is the practical defense.