Q: How do I get items in safe deposit box appraised after my father's death?
I am trying to find out how I get items in a safe deposit box appraised if I cannot remove the items?
Facts:
1) The owners of the box are me and my father, my father is deceased. The bank knows this.
2) The bank is in NY.
3) The items within the box are likely small value jewelry.
4) The jewelry will not be sold but will be split amongst me and my sister, the other beneficiaries on the will.
5) The will has not been probated, but I am named as the executor. We are trying to figure out if we can just do a small estate as the only other property is my dad's Porsche valued at $46,000-$52,000.
6) I need the value of the jewelry to figure out if my dad's estate is under $50,000 so I can establish it as a small estate.
A: If you are listed as a joint owner I don't understand why you are not being given access. However, I suggest that you file for a small estate for voluntary administration based upon the assets you are aware of. Once you are empowered by the Court, you can certainly get access to the safe deposit box. If it turns out that the jewelry is worth a lot more, you will be able to convert the matter. Also, you should be using a wholesale (trade-in) value for the Porsche.
A: You can do it as a small estate. You do not need to make a project out of this.
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