Can an insurance appraisal of my belongings be reused for tax or estate purposes in California?
No. Insurance appraisals use replacement cost with current retail pricing, while IRS and estate work requires fair market value, a different definition with different methods and data sources. Using one where the other is required is a common and costly mistake, so tell us the intended use up front and we will apply the correct standard.
What effective date should a personal property appraisal use for a California estate?
The decedent's date of death, which makes the appraisal retrospective. Appraisal standards require the effective date to match the legal event, whether that is a date of death, date of gift, or date of loss, and misaligning it is a frequent error that undermines otherwise sound reports.
What is the filing deadline for the Inventory and Appraisal in California probate?
Four months after letters are first issued to the personal representative. If additional personal property is discovered later, a supplemental Inventory and Appraisal must be filed within four months of learning of it. Our valuations give the estate documented fair market values to support both filings.
Does California impose its own estate tax on personal property?
No. California has no state estate or inheritance tax, so only the federal estate tax can apply to a California decedent's personal property. Estates that approach the federal threshold still need defensible date-of-death values for household contents, collections, and other tangible assets.