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Probate and Estate Litigation Blog

November 2015 Archives

Getting the right value on a unique piece of property

Last week's post on this blog discussed how Saint Paul, Minnesota, residents may have to place a value on personal property in order to resolve a probate dispute or trust dispute over the value of an estate. Although some personal property, like bank accounts or publically-traded stock, might be pretty easy to value, "personal property" includes a lot of different types of assets, some of which can be very unique.

Overview of how to value personal property

A recent post on this blog discussed how those involved in probate disputes can accurately place a value on a home or other piece of real estate. However, in addition to the family home or farm, most Minnesota estates that wind up in probate will also contain personal property that will need to be valued accurately, particularly if the estate is the subject of a conflict.

How does one value a family home?

One of the most common and most valuable items that Minnesota residents usually find in a probate estate or a trust is a family residence or similar piece of real estate. Sometimes, these homes are relatively modest and pretty easy to put a value on by asking a realtor for a market analysis or even just selling the property to keep all parties happy.

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