How to Value an Estate for Probate in South Australia

Valuing an estate for probate in South Australia involves more than a rough tally of assets. The CourtSA portal requires a formal Statement of Assets and Liabilities that reflects every asset and debt at the exact date of death — and the Probate Registry will reject applications that rely on estimates, outdated figures, or unsupported guesses.

Getting the valuation right matters for two reasons: it determines your court fee, and errors trigger formal requisitions that halt your application until corrected.

The Governing Rule: Date-of-Death Values Only

Under Section 71 of the Succession Act 2023 and Rule 356.17 of the Uniform Civil Rules 2020, all assets and liabilities must be valued as at the date of death, not the date of application. If a property was worth $750,000 on the day the person died but the market has shifted since, the value at the date of death is what goes into the statement — even if that creates friction with buyers or beneficiaries who are watching current market prices.

This requirement exists to ensure consistency and prevent executors from manipulating values to reduce court fees or alter distributions.

Real Estate

Real estate is the most significant asset in most South Australian estates — and the most scrutinised by the Probate Registry.

The registry accepts two types of real estate valuations:

Valuer General assessment: The figure listed on the current local council rates notice represents the Valuer General's assessment of the property's site value and capital value. This is the simplest option — obtain the most recent rates notice from the council and use the capital value figure.

Licensed property valuer's report: A formal valuation from a licensed property valuer provides a current market value as at the date of death. This is generally more accurate than the council rates assessment (which may be 12–18 months out of date) and is often preferred for high-value properties where the fee tier matters. A licensed valuation typically costs $300–$800 depending on the property type and location.

What the registry will not accept:

• The executor's personal opinion of what the house is worth
• Online real estate estimates (CoreLogic, Domain, realestate.com.au automated valuations)
• A real estate agent's informal sales appraisal without supporting documentation
• A figure based on recent sales of comparable properties, unless provided as part of a formal valuation report

Bank Accounts and Term Deposits

For bank accounts, a current statement showing the balance as at the date of death (or as close as possible) is required. Contact each financial institution's deceased estates team — they are experienced at providing date-of-death balance confirmations, usually in writing on the bank's letterhead.

For term deposits, use the balance at maturity if the term matured on or before the date of death, or the face value (plus accrued interest) at the date of death if the term was still running.

Superannuation

Superannuation is typically excluded from the estate for probate purposes — unless the deceased explicitly nominated the estate as the beneficiary of their death benefit, or the superannuation fund trustee exercises discretion to pay the estate. In most cases, super passes directly to nominated beneficiaries outside the estate.

If superannuation is directed to the estate, contact the fund for the date-of-death benefit statement, which will show the balance including any applicable death benefit components.

Listed Shares and Managed Funds

Use the closing share price on the Australian Securities Exchange (ASX) on the date of death, multiplied by the number of shares held. This information can be obtained from the ASX website or from the share registry (Computershare, Link Market Services, etc.).

For managed funds, request a unit value statement as at the date of death from the fund manager.

Vehicles

For motor vehicles, an executor's general assessment is more likely to be accepted in the Statement of Assets (unlike real estate), but using a recognised valuation guide — such as RedBook — provides a defensible figure if the registry queries it. Use the private sale value at the date of death.

Debts and Liabilities

All outstanding debts must be listed in the Statement of Assets and Liabilities. This includes:

• Mortgage balances (obtain a statement from the lender as at date of death)
• Personal loans and credit card balances
• ATO tax liabilities (if known — a tax accountant should advise)
• Outstanding utility bills or other quantified debts

Funeral expenses are excluded. Despite being the estate's first financial obligation, funeral expenses are not listed in the Statement of Assets and Liabilities. They are an estate debt paid from available assets, but they don't appear in the court document.

Interstate Assets

If the deceased was domiciled in Australia, the Statement of Assets and Liabilities must include all assets and liabilities wherever they are located — not just South Australian assets. Interstate bank accounts, shares, investment properties in other states, and overseas holdings must all be disclosed and valued.

The gross value of South Australian assets alone determines the court filing fee tier. But the total estate (including interstate assets) must still be disclosed in full.

How the Valuation Affects Your Court Fee

CourtSA filing fees are calculated on the gross value of South Australian assets:

A modest improvement in valuation precision can occasionally push an estate from one tier to another — for example, where a property and bank accounts sit just above or below the $200,000 threshold. In those cases, a formal valuation confirming a date-of-death value below $200,000 may save nearly $1,000 in court fees. It's worth calculating before you file.

The South Australia Probate Process Guide includes a full asset valuation checklist aligned with the current Uniform Civil Rules 2020, covering every asset type commonly encountered in South Australian estates.

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