Life Choices
WHEN YOUR LOVED ONE DIES
Life Choices: Page 31 of 36
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Financial matters: Property inventory & transfer of property
Property inventory
As soon as possible, make a detailed list of all property of the deceased and the fair market value of each item. The list should reflect any items that are joint property, if the deceased was married. A professional appraiser may be helpful. Include real estate, stocks and bonds, cash in financial institutions, insurance benefits, motor vehicles, boats, furniture and furnishings, jewelry, business interests and employment or retirement benefits.
Transfer of property
Property may be transferred through probate court. The court works to protect the people who have an interest in the deceased's property. Probate proceedings are not always necessary. Depending on an array of factors, probate may be necessary. Contact an attorney for help.
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