How is a court monetary judgment appraised by a probate referee for the purpose of the Inventory & Appraisal form in probate?
4 attorney answers
The Probate Attorney will provide that VALUATION but to do so, will need to know about the inability to collect. So please provide all info that you already know to the Probate Referee, so that they can assess the Data and come up with The Number for the probate matter.
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You need to include it as part of the estate.
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The judgment is the document that you need to submit to the probate referee. collecting it is a totally different thing. Its asset value is still a potential value but the right attorney will know what to do to collect on the judgment.
It has a value because it is not dischargeable in bankruptcy because it was for fraud. You can’t leave things out of a probate inventory.