Proving the Value of Vehicles for an Illinois Probate Inventory

Short answer: In Illinois, the personal representative (executor) must list each vehicle owned by the decedent on the estate inventory and support the stated fair market value with contemporaneous, reasonable evidence — for example, printed values from recognized pricing guides, comparable listings, dealer or independent appraisals, payoff statements for financed vehicles, and photos. When heirs disagree about value, the court can order appraisal or direct sale. See the Illinois Probate Act for the personal representative’s duties: https://www.ilga.gov/legislation/ilcs/ilcs3.asp?ActID=2106.

Detailed answer

1. Who must list and prove vehicle values?

The person appointed by the court as the personal representative must prepare and file an inventory of estate property. Vehicles titled in the decedent’s name are estate assets and must be listed. The Probate Act governs administration duties; review the Act for filing and inventory duties: https://www.ilga.gov/legislation/ilcs/ilcs3.asp?ActID=2106.

2. What value do you report?

Report the vehicle’s fair market value (FMV) as of the date of death. FMV is the amount a willing buyer would pay a willing seller when neither is under compulsion to buy or sell, considering mileage, condition, options, and local market. If there is an outstanding loan, report the gross value of the vehicle and separately note the lien or payoff amount.

3. Acceptable ways to prove FMV

Use one or more of these methods and keep copies in the estate file:

• Published valuation guides: Print or save the vehicle’s value from trusted sources such as Kelley Blue Book (kbb.com), NADA Guides (nadaguides.com), or Edmunds (edmunds.com). These are widely accepted as objective references.
• Comparable listings: Save listings for similar vehicles (same year, make, model, similar mileage and condition) from local classifieds, dealer websites, or auction sites to show what similar cars are selling for in your area.
• Written dealer appraisal or independent appraiser: Obtain a dated statement from a licensed dealer or an independent vehicle appraiser. A signed appraisal is strong evidence if heirs or the court question value.
• Recent sale or auction receipts: If a similar vehicle recently sold in your market, the sale price is persuasive proof of value.
• Insurance or payoff statements: Insurance valuations or a lender payoff statement show what insurers or lenders attribute to the vehicle — useful for cross-checking, though insurance valuations can differ from FMV.
• Condition documentation: Take photos and keep maintenance/repair records. A good-documented condition can support a higher FMV; major defects justify a lower FMV.

4. How to present vehicle value on the probate inventory

1. List the vehicle with year, make, model, VIN, and mileage.
2. Enter the chosen FMV and state the source (for example, “FMV $3,900 per KBB private-party value printed 04/2025”).
3. Attach supporting documents: printed guide pages, comparables, appraisal, photos, title, loan payoff statement.
4. If the vehicle has a lien, list the lien amount separately so net estate value is clear.

5. What if heirs disagree about value?

If heirs object to the stated value, options include: discuss and agree on a value; obtain an independent appraisal paid by the estate; sell the vehicle and report actual sale price; or, if disagreement persists, ask the probate court to order appraisal or resolve disputes. The court has authority to direct final steps under the Probate Act: https://www.ilga.gov/legislation/ilcs/ilcs3.asp?ActID=2106.

6. Special situations to watch for

• Title not in decedent’s name: If a vehicle is titled jointly or has another owner, it may pass outside probate. Check title and registration with the Illinois Secretary of State: https://www.ilsos.gov/departments/drivers/vehicle_services/title.html.
• Antique, classic, or modified vehicles: These may require specialty appraisers to establish FMV.
• Business or collector vehicles: If the decedent used the vehicle for a business, consult an accountant about valuation and tax implications.

7. Recordkeeping and filing

Keep originals or certified copies of title, valuation printouts, appraisal letters, photos, and sale receipts in the estate file. File the inventory and any required accountings with the probate court per court rules and the Probate Act. Also check local county court forms and rules for any additional requirements: https://www.illinoiscourts.gov/.

Helpful Hints

• Start early: gather title, keys, maintenance records, and photos as soon as possible.
• Use at least two valuation sources (e.g., KBB + comparables) to support your number.
• If a vehicle is financed, get a current payoff letter from the lender to show the lien amount.
• For unusual or valuable vehicles, pay for a written professional appraisal — it is cost-effective if the estate or dispute is large.
• If you plan to sell the vehicle, document the sale price and attach the bill of sale to the estate records.
• Keep all valuation evidence with the inventory you file in court — unsigned or undocumented values invite disputes or court scrutiny.
• Contact the county probate clerk for local filing deadlines and required forms.
• When in doubt, consider brief advice from a probate attorney — they can explain local practice and help avoid costly mistakes.

Disclaimer: This article explains general Illinois probate practice and common ways to prove vehicle value. It is not legal advice and does not create an attorney-client relationship. For advice about a specific estate or contested valuation, consult a licensed Illinois probate attorney or the probate court in the county where the estate is being administered.