Estate valuation is an important part of administering a trust in Rockville, Maryland. In addition, estate valuation may be necessary for estates that are going through the probate process, as well. For distribution purposes, it is important to have a complete inventory of a person's assets.
An estate can be valued prior to creating a will or a trust. This way, the creator of such a document has a full understanding of the value of his or her assets so they can fairly pass them on. In addition, for purposes of probate law, a full inventory of all assets may be necessary. In these situations, the value of the estate must be established.
How is estate valuation accomplished? Many times, a person calls upon professionals to help in such endeavors. This could include experts on certain types of property, such as home appraisal experts, art experts and other professionals experienced in valuing certain types of personal property. It is also important to value intangible property, such as retirement accounts, stocks and bonds. There are also professionals available to help in such endeavors.
In addition, a person may seek legal help when it comes toestate valuation. A probate lawyer may understand what is necessary to create an estate planning document and he or she also will understand what happens during the probate process. An attorney may be able to explain the details of these processes, which may be of great comfort when one is dealing with a loved one's death. You can take a look at this page on estate valuation to find out more about this important topic.