Section 8901 Of Article 1. Procedure From California Probate Code >> Division 7. >> Part 3. >> Chapter 3. >> Article 1.
8901
. The personal representative shall appraise the following
property, excluding items whose fair market value is, in the opinion
of the personal representative, an amount different from the face
value of the property:
(a) Money and other cash items. As used in this subdivision, a
"cash item" is a check, draft, money order, or similar instrument
issued on or before the date of the decedent's death that can be
immediately converted to cash.
(b) The following checks issued after the date of the decedent's
death:
(1) Checks for wages earned before death.
(2) Refund checks, including tax and utility refunds, and
Medicare, medical insurance, and other health care reimbursements and
payments.
(c) Accounts (as defined in Section 21) in financial institutions.
(d) Cash deposits and money market mutual funds, as defined in
subdivision (b) of Section 9730, whether in a financial institution
or otherwise, including a brokerage cash account. All other mutual
funds, stocks, bonds, and other securities shall be appraised
pursuant to Sections 8902 to 8909, inclusive.
(e) Proceeds of life and accident insurance policies and
retirement plans and annuities payable on death in lump sum amounts.