Plain-language meaning
It fixes the valuation date; it does not tell you which source or appraisal method is appropriate for every asset.
What the term does not establish
It is not necessarily the purchase price, current sale price, account balance on the day paperwork is completed, or probate value used by every jurisdiction.
Why it matters in estate settlement
The word can affect how a person reads a form, will, account request, inventory, claim, or court explanation. It should be used in the context of the governing document, the property involved, and the responsible jurisdiction—not as a shortcut to a legal result.
Example
For a publicly traded holding, records may support a market-based value on the date of death. A closely held business or real property may require a qualified valuation method.
Continue to the subject owner
This is a definition page, not a competing guide. Classify the asset before choosing its transfer route for the complete decision, evidence, stop conditions, and next actions.
Related terms
- Estate accounting — It explains what entered the representative's control, what changed, what was paid or distributed, and what remains.
- Decedent — When a form asks for the decedent, it means the person whose estate is involved—not the executor, beneficiary, or person completing the form.
- Residuary estate — A residuary clause answers who receives the remaining estate rather than listing every remaining item individually.
Official orientation
Terminology is checked against official court and federal estate-administration explanations, including California Courts probate terms, New York Courts guidance on estate fiduciaries, and IRS Publication 559. The controlling meaning may still depend on the jurisdiction and document.