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Estate Inventory
The personal representative must file an inventory within 6 months, listing all estate assets at their fair market value as of the date of death.
20 Pa. Cons. Stat. Ann. § 3301
Notice: Estate administration and planning involve complex legal, tax, and fiduciary considerations. This information is provided for educational purposes. Consult with a licensed attorney and tax professional for guidance specific to your situation.
Property Included
Real property located in PA
Tangible personal property (vehicles, jewelry, furniture)
Bank accounts (solely owned)
Investment accounts (solely owned)
Life insurance payable to the estate
Retirement accounts payable to the estate
Business interests
Intellectual property
Digital assets
Property Excluded
Property held in joint tenancy with right of survivorship (passes by operation of law)
Life insurance with a named beneficiary (not the estate)
Retirement accounts with a named beneficiary
Trust assets (held in a revocable or irrevocable trust)
Transfer-on-death (TOD) and payable-on-death (POD) accounts
Valuation Methods
Real Property
Appraisal or county tax assessment
Securities
Closing price on date of death
Bank Accounts
Balance on date of death
Personal Property
Fair market value
Business Interests
Professional valuation may be required
Vehicles
NADA or Kelley Blue Book value