2025 Session
Last amended: 1994 session
§ 524.2-204 — Decedent's Net Probate Estate
Plain-Language Summary
This section explains how to determine the value of the augmented estate, including rules for valuing life estates, joint tenancies, and other interests.
524.2-204 1994 c 472 s 64
524.2-204 DECEDENT’S NET PROBATE ESTATE.
The value of the augmented estate includes the value of the decedent’s probate estate, reduced by funeral and administration expenses, the homestead, family allowances and exemptions, liens, mortgages, and enforceable claims.
History:
History: History:
1994 c 472 s 18
Practical Notes
When calculating the elective share, property is generally valued at fair market value as of the date of death. Special rules apply for certain types of property like life insurance and retirement accounts.