If you want to know the value of these assets for estate planning purposes, you will need to have them appraised by an expert. After you pass away and they become part of your estate, they will likely need to be appraised again for tax purposes. You can go without appraising them for planning purposes, if you want. However, it will make planning more difficult.

Another thing to consider is whether you want unique objects to pass to your heirs through a will. This will likely make their values publicly known through the probate process. That public knowledge can be avoided by using a trust instead.

An estate planning attorney can advise you on creating an estate plan that fits your unique circumstances and may include the use of a trust.

Philip J. Kavesh
Nationally recognized attorney helping clients with customized estate planning guidance for over 40 years.
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