When must estate personal property be formally appraised in DC?
In supervised administrations, always: D.C. Code § 20-712 requires each inventoried item's fair market value as of the date of death to be set by appraisal. The court's Inventory and Accounting Guide further directs representatives holding tangible personal property worth more than $1,000, such as furnishings, jewelry, or vehicles, to arrange an official appraisal through the Probate Division's standing appraiser.
What format does a DC probate appraisal follow?
Columnar form, by statute. Section 20-712(b) requires the appraisal to generally describe each item, assign a value to each item, and be verified by the appraiser. Lump-sum or narrative-only valuations do not satisfy the rule.
How are unusual assets like coins, stamps, or business interests handled in DC probate?
Through qualified special appraisers. Probate Rule 109(d) directs the personal representative to select special appraisers for interests in partnerships, business enterprises, cooperative apartments, coins, stamps, and other assets the standing appraisers do not ordinarily value, with the Register of Wills overseeing the process. Securities are valued under federal estate tax principles as of the date of death.
Do unsupervised DC administrations need the same appraisals?
Not necessarily. An unsupervised personal representative has three months to prepare an inventory with fair market values and deliver it to interested persons rather than file it with the court. Where inventory filing is excused under § 20-731, the appraisal requirement is excused as well unless the court orders otherwise for good cause.