topic | executing a living trust
Step 4: appraise valuable property
Appraisals are important for determining beneficiaries’ tax obligations, handling distribution questions, and determining estate taxes. They may be obtained from many sources.
- real estate: Obtain 2-3 appraisals from real estate agents or appraisers. Online sources such as www.Trulia.com and www.Zillow.com may be less precise, but offer ballpark estimates.
- stocks, bonds, and mutual funds: Consult brokerage firms, online quotes or the financial section of newspapers for daily valuation.
- insurance policies and annuities: Contact the issuing company.
- business ownership: Consult a professional appraiser.
- vehicles: Check the Kelly Bluebook, an online source such as www.Edmunds.com, or even dealerships.
- antiques, jewelry, or furniture: Check online auctions or local professional appraiser.
(if this Step is complete)
to Step 5
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