Listing Personal Property for a Surviving Spouse’s Year’s Allowance in California
Detailed Answer
When you administer an estate in California, you must prepare a formal inventory and appraisal of all assets—real and personal. This process ensures accuracy when determining a surviving spouse’s year’s allowance under Probate Code section 13550. Probate Code § 13550
- Inventory and Appraisal: Probate Code § 8800 requires a personal representative to file an inventory and appraisal of all estate assets, including household goods, vehicles, jewelry and other personal property, within four months of appointment. Probate Code § 8800
- Election for Year’s Allowance: Under Probate Code § 13550, a surviving spouse may choose a year’s allowance in lieu of dower, statutory allowances or exempt property. The personal representative uses the inventory to verify sufficient assets. Probate Code § 13550
- Set-Aside of Personal Property: Probate Code § 13552 directs the personal representative to set aside cash or personal property—up to the statutory cap—as part of the year’s allowance. Listing all items ensures clear identification of assets allocated to the spouse. Probate Code § 13552
- Accounting and Final Distribution: At the final accounting stage, the estate must show how the allowance was satisfied and which assets were used. This step provides transparency and protects against potential disputes.
Helpful Hints
- Gather Documentation: List item descriptions, serial numbers and purchase dates for valuable personal property early in the process.
- Use Professional Appraisers: Get formal appraisals for antiques, artwork or jewelry to establish fair market value.
- Mind Statutory Deadlines: File the inventory within four months of appointment to avoid penalties under Probate Code § 9150.
- Confirm Spouse’s Election in Writing: Document the surviving spouse’s choice for a year’s allowance to prevent misunderstandings.
- Maintain Detailed Records: Keep a clear record of which assets you allocate to the allowance and those remaining for distribution.
Disclaimer: This article is for educational purposes only and does not constitute legal advice. Consult a qualified attorney for guidance specific to your situation.