Four Steps to Valuing an Estate Determining the value of an estate is a fundamental first step in estate management and a critical requirement for settling a decedent’s estate.1 How to Assess the Value of an Estate Select the date of calculation. Because values move up and down, you need to set a specific date for a valuation. For a living person, you are free to pick any date. If you’re assessing the value of a decedent’s estate, you may choose either the date of death or the date six months after their death (the “Alternate Valuation Date”). If you use the Alternate Valuation Date, any asset sold or distributed during the first six months following the death must be valued as of the date of sale or distribution.2 Determine the assets comprising the estate. This asset list should include everything an individual owns or has ownership interests in. Gather all financial statements as of the date of calculation. If an account is owned individually, the entire value should be calcu