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This guide explains how a personal representative or family member can establish the fair value of vehicles owned by a decedent for Iowa probate purposes. It walks through the legal context, the usual methods courts accept, practical documentation steps, and special situations you may face. This is informational only and not legal advice.

Detailed answer — what you need to know

When someone dies in Iowa, the personal representative (also called an executor or administrator) must identify and report the decedent’s assets to the probate court. Vehicles are estate assets if they pass through probate. In Iowa, the inventory and valuation process for decedent’s estates is governed by Iowa’s probate statutes (see Iowa Code chapter 633). For general probate guidance from the state courts, see the Iowa Judicial Branch probate pages: https://www.iowacourts.gov/for-the-public/representing-yourself/probate/. For statutory language, see Iowa Code chapter 633: https://www.legis.iowa.gov/docs/code/633.pdf.

1. Valuation date

Valuations are generally measured as of the date of death. That means you must estimate what each vehicle was reasonably worth on the day the owner died, not months later (unless the court authorizes a different valuation date).

2. Who prepares the inventory and files it

The personal representative prepares and files the estate inventory with the probate court. If the estate qualifies for simplified or small-estate procedures, a different filing path may apply. Check the Iowa Judicial Branch site or consult an attorney if you think simplified procedures may apply.

3. Acceptable methods to prove a vehicle’s value

Courts and auditors accept multiple, well-documented methods. Use one or more of the following:

• Professional appraisal: A written appraisal from a certified vehicle appraiser or licensed motor-vehicle appraiser carries strong evidentiary weight.
• Dealer bids or offers: A written, dated offer from a licensed car dealer that shows the vehicle, mileage, and condition works well.
• Vehicle valuation guides: Published guides such as Kelley Blue Book (KBB), NADA Guides, or Black Book provide mainstream market values. Print or save the specific report showing the vehicle year, make, model, mileage, options, and the date of the valuation.
• Comparable sales: Recent sale listings or completed auction results for similar vehicles (year, mileage, condition, geographic area) help support value.
• Post-death sale price: If you sold the vehicle shortly after death in an arm’s-length transaction, the sale price is strong evidence of value.

4. Documentation to include with the probate inventory

Attach or keep with your inventory clear documentation:

• Title/registration showing vehicle identification number (VIN).
• Odometer reading as of date of death (photos or inspection records if possible).
• Photos that show overall condition and any damage.
• Copies of appraisal reports, dealer offers, KBB/NADA printouts, auction results, or comparable listings.
• Repair estimates or estimates of salvage if the vehicle was damaged.
• Proof of liens or outstanding loans on the vehicle (lender statements or title lien notation).

5. Handling liens and encumbrances

If a vehicle had a loan or lien, list the vehicle on the inventory at its full fair market value and separately list the secured debt amount. The net equity equals value minus lien, but the court needs both numbers to administer the estate and pay creditors properly.

6. Jointly owned vehicles and beneficiary transfers

Not all vehicles pass through probate. If a vehicle was owned jointly with rights of survivorship, it may pass directly to the co-owner and not be part of the probate inventory. Similarly, vehicles titled to a named beneficiary or held in a trust may avoid probate. Check the title and ownership documents closely, and include copies when you file.

7. What the court expects

The court expects the personal representative to make a good-faith effort to determine value and to supply supporting documentation if requested. If the court or interested parties dispute a valuation, the court may order an appraisal or hold a hearing where you present the evidence you collected.

Practical example (hypothetical)

Suppose a decedent owned a 2015 sedan with 72,000 miles and minor cosmetic damage. As personal representative you would:

1. Record the odometer and take dated photos.
2. Pull a KBB and NADA private-party value for the exact year/make/model/options and save the report pages showing the vehicle details and date.
3. Get a written repair estimate showing the damage and estimated cost to fix.
4. Request a written offer from two local dealers, if feasible.
5. If you still need stronger evidence, hire an appraiser and attach the written appraisal.
6. List the vehicle on the probate inventory as valued at the date-of-death market value, attach the valuation support, and disclose any lien amount.

Special situations to watch for

• Damaged or totaled vehicles: Provide repair estimates and salvage valuations. If a vehicle is a total loss, insurer settlement offers are strong proof.
• Classic or custom cars: Use a specialty appraiser experienced with collector vehicles rather than standard guides.
• Disagreements among heirs: Consider agreeing to a neutral appraisal or asking the court to resolve the valuation dispute.
• Small estate or affidavits: If the estate qualifies for a small-estate procedure, the valuation process may be simplified; consult the Iowa Judicial Branch materials.

Helpful Hints

• Start documenting immediately. The closer the evidence is dated to the date of death, the stronger it is.
• Use at least two independent valuation sources if possible (e.g., KBB plus a dealer offer).
• Keep originals and copies organized in a folder labeled for the estate; include dates on photos and documents.
• If you hire an appraiser, ask for a signed, dated appraisal that lists methods used and comparable sales.
• List liens separately on the inventory; don’t deduct secured debt from the reported gross vehicle value on the face of the inventory form unless instructed.
• If you expect disputes, consider notifying interested parties of the valuation and provide them copies of valuation documents before filing.
• When in doubt about procedure or whether a vehicle is probate property, contact the probate clerk at the county courthouse or consult a qualified Iowa attorney.