How to Value Household Goods for a Probate Inventory

Many executors dread the probate inventory. When the court requires one, it may ask for the fair market value of estate assets. The good news: most household goods are worth far less than you'd expect, and you don't need a professional appraiser for everyday items.

What Probate Courts Actually Require

Inventory requirements depend on the jurisdiction, the type of administration, and the estate. Where an inventory is required, it commonly lists estate property and its fair market value as of the date of death. "Fair market value" means what a willing buyer would pay a willing seller — not what it cost new, not what it would cost to replace, and not what the family thinks it's worth sentimentally.

Filing deadlines and alternatives vary. In California, the inventory and appraisal are generally due within four months after letters are first issued to a general personal representative. In Texas, they are generally due before the 91st day after the representative qualifies, although an independent executor may file an affidavit in lieu when statutory conditions are met. In England and Wales, an IHT400 is required only for estates that meet the inheritance-tax filing rules. Check the court's requirements for the estate.

Valuing Common Household Items

For ordinary household goods — furniture, kitchenware, linens, electronics, clothing — courts generally accept a reasonable estimate based on current resale value. Here's the practical approach:

Furniture: Check completed listings on Facebook Marketplace, Craigslist, or eBay for comparable items. A ten-year-old sofa that cost $2,000 new typically has a fair market value of $100 to $300. Used mattresses and upholstered pieces often have near-zero resale value.

Electronics: Depreciation is steep. A five-year-old TV is worth 10–20% of its original price. Phones and laptops lose value quickly unless they're recent models.

Clothing: Unless the deceased owned designer pieces or vintage collectibles, clothing is valued at thrift-store prices — often $1 to $5 per item. Courts routinely accept a lump-sum estimate for an entire wardrobe.

Kitchen and household goods: Pots, pans, dishes, and small appliances rarely exceed $5 to $15 each at resale. Estimate these in groups rather than item by item.

When You Need a Professional Appraiser

Some categories may need a professional appraisal when court rules or tax reporting call for one, or when a reliable date-of-death value is otherwise needed:

• Jewelry worth more than a few hundred dollars
• Art, antiques, and collectibles (coins, stamps, firearms, wine)
• Vehicles, boats, and recreational equipment
• Donated items claimed for a tax deduction: A qualified appraisal is generally required when the claimed federal income-tax deduction for an item or group of similar items is more than $5,000; exceptions apply.

Look for appraisers accredited by the American Society of Appraisers (ASA) or the International Society of Appraisers (ISA). USPAP-compliant reports provide a recognized appraisal standard but do not guarantee acceptance by a court or the IRS. Expect to pay $200 to $500 for a single-item appraisal, or $300 to $1,000 for an on-site session covering multiple items.

In California, the court appoints a probate referee to value non-cash assets. The referee's fee is set by statute at 0.1% of the appraised value.

The Step-Up in Basis — Why Accurate Values Matter

When someone inherits an appreciated asset, its tax basis "steps up" to the fair market value on the date of death. If the deceased bought a painting for $500 and it was worth $15,000 when they died, the heir's basis is $15,000. Selling it for $16,000 means only $1,000 in capital gains tax, not $15,500.

An undervalued inventory cheats heirs out of this benefit. An overvalued one inflates estate tax liability. Getting it right protects everyone.

Practical Tips for the Inventory Process

Walk through the house with a camera or phone and record every room. Video is even better — narrate what you see and note condition. This creates a defensible record if anyone later claims items were missing or damaged.

Group low-value items only when the court's required form and local rules permit it; some inventories allow entries like "contents of kitchen — estimated value $200" rather than a line item for every spatula.

Keep receipts for any professional appraisals and note the methodology you used for self-valued items (comparable sales, replacement cost minus depreciation, or thrift-store pricing).

Our estate clearing toolkit includes inventory tracking templates that map directly to common probate court formats, plus a room-by-room approach that makes the physical process manageable.