Legal Question in Wills and Trusts in Ohio
Appraisals of personal property of the decased
What personal property of the decedant's have to be appraised?
Does this include household goods?
1 Answer from Attorneys
Re: Appraisals of personal property of the decased
The law requires that any assets that do not have a "readily ascertainable value" must be appraised. Whether that includes household goods is often a matter of local rule.
Most courts do not require an appraisal of ordinary household goods. "Ordinary household goods" does not include antiques, valuable silver, collectibles, etc.
Some courts include in the value of the real property appraisal, if any.
Other factors which could make an appraisal necessary include a potential dispute among beneficiaries, and an estate where all asstes need to be sold to pay debts.