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BOND OF LEGAL REPRESENTATIVE SURETY STATE OF ILLINOIS3721 (Rev 4/16)UNITED STATES OF AMERICA COUNTY OF DU PAGE IN THE CIRCUIT COURT OF THE EIGHTEENTH JUDICIAL CIRCUITING RE THE ESTATE OF CASE NUMBERDECEDENT MINOR DISABLED
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How to fill out value of estate property

01
Identify all assets within the estate property, including real estate, vehicles, investments, bank accounts, and personal belongings.
02
Determine the fair market value of each asset by conducting research or seeking professional appraisal services.
03
Calculate the total value of the estate property by adding up the value of all assets.
04
Consider any debts or liabilities associated with the estate property that may need to be subtracted from the total value.

Who needs value of estate property?

01
Executors of a will may need the value of estate property in order to fulfill the wishes of the deceased.
02
Beneficiaries of the estate may need to know the value of property in order to understand their inheritance.
03
Legal professionals involved in estate planning or probate proceedings may require the value of estate property for legal purposes.
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The value of estate property refers to the total worth of all assets owned by a deceased person at the time of their death, including real estate, personal property, investments, and any other financial interests.
The executor or administrator of the estate is required to file the value of estate property as part of the estate's probate process.
To fill out the value of estate property, the executor must gather all relevant documentation, assess the fair market value of each asset, and complete the required forms, detailing the nature and value of each property.
The purpose of valuing estate property is to determine the total worth of the estate for the purposes of taxation, distribution to heirs, and ensuring that debts and obligations are settled.
Information that must be reported includes descriptions of all assets, their valuations, any outstanding debts, and information regarding beneficiaries.
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