How to value personal possessions for probate?

Value personal possessions for probate at fair market value as of the date of death, not what was originally paid or what it would cost to replace, using a mix of documented estimates for ordinary items and professional appraisals for anything valuable or unique.

Start With a Complete Inventory

Walk through the home room by room and list every item or logical grouping (kitchenware, linens, tools) with notes on condition, age, brand, and any receipts or prior appraisals. This inventory becomes the backbone of the probate filing and gives the executor a defensible record if beneficiaries or the court later question a valuation.

Two Tiers of Valuation

Most estates split cleanly into two categories:

• Ordinary household goods: furniture, clothing, dishes, books, and everyday tools can usually be grouped and assigned reasonable, good-faith estimates. Items with no real resale market can be listed at zero value, and sentimental attachment does not factor into fair market value.
• Valuable or unique items: fine art, jewelry, antiques, coins, firearms, and collections warrant a professional personal property appraisal, particularly when the estate is contested, subject to court supervision, or triggers estate tax reporting.

Why Professional Appraisals Matter for Higher-Value Items

Self-estimates that rely on asking prices or personal opinion rarely hold up if a beneficiary disputes the numbers or if the estate crosses a tax filing threshold. A qualified appraiser establishes fair market value using comparable sales data, market research, and an item's condition and provenance, and documents that reasoning in a report prepared in accordance with USPAP. That documentation gives the executor a defensible basis for every figure reported to the court or the IRS.

Our appraisers value fine art, jewelry, antiques, coins, firearms, and full collections for probate and estate settlement, and our personal property appraisal for estate tax services address estates that also require IRS Form 706 reporting. If you're unsure which items need a formal appraisal versus a documented estimate, that scoping conversation is a good place to start.