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Estate inventory

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baylor2011

Junior Member
What is the name of your state (only U.S. law)? Texas

I understand that large items (house, land, cars, etc) are inventoried and appraised by professionals. What about personal property like furniture, electronics, guns, knick knacks, etc?
Do you appraise them at what you think they can be sold for, to the best of your knowledge? This may be less than their true value because when you are forced to liquidate you take what you can get.
So how does the probate judge see this? Have you done anything wrong by giving low appraisals for quick liquidation? I don't want to get into trouble but household and other personal property can sometime be hard to sell.What is the name of your state (only U.S. law)? Texas

What I'm most concerned about is disposing of the gun collection. The price guide is full retail that a dealer will sell at. I would like to sell to a dealer (less than retail or course). What price do I put on inventory?
 
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