Following is letter # 7 in the 16-letter probate prospecting set:
Dear (name of executor),
One of the most daunting tasks you face after receiving appointment as personal representative will be to inventory your loved one’s assets and put a value on each item.
The real property is easy. I can provide you with current market values of any and all property in our market area. I can also help you find agents to provide values in any other communities where your loved one owned property.
Many items will carry little to no value. That would include items in day-to-day use, such as linens, most clothing, and most kitchen ware. However, you do need to remember that even some of those items could have sentimental value to one or more heirs, so should not be disposed of indiscriminately.
Items that should be listed and valued individually include:
- Motor Vehicles
- Recreational Vehicles
- Musical Instruments
You may need to consult with a variety of experts to come to a true value on these items, so get started early. If you aren’t sure who to consult, call me. I do have a list of experts who can help you determine the value of these items.
Once you have values, consult with your attorney to see if some items can be sold and added to the estate’s cash assets. This could be a wise move in the case of boats or vehicles in paid storage or animals which need ongoing paid care. It could also be wise to sell the real property without waiting for the close of probate, especially if you live at some distance and maintenance will be an issue.
Remember, I’ll be happy to provide you with real property values at no charge and with no obligation.
(signature and contact information)
Is this the probate prospecting letter set you need? Good!
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