$11,000,000
Charlie Chaplin died in 1977, and his whole estate is said to be worth $48 million in today's standards. The heir to his fortune is his granddaughter Kiera Chaplin.
Yes, the executor of the estate may do what they can to insure the value of the estate doesn't lose value. But the estate will need to file a tax return for the rental income.
Estate appraisals often happen a little while after the holder of the estate has died. There for the total worth of the estate may have changed. By getting an appraisal you are determining the fair market value and this makes it easier to distribute the proceeds to the debt holders or recipients in the will.
There is no income tax on inherited property. The estate is subject to estate taxes before the property is passed on to heirs though. This depends on the value of the estate at the time the person died. If there is no estate tax problem, you do not have to pay income tax on the property received. However, if you sell any of the property you may have a tax situation on your gains from the property from the value at the date of death until the time you sell the property. You are allowed a stepped up basis in this situation so that your basis is not what your grandfather paid for the property, but the value on the day he died.
Charlie Sagar died in 1919.
Charlie Rance died in 1966.
Charlie Guth died on 1883-07-05.
Charlie Beal died on July 30, 1991, in New York City, New York, USA.
Charlie Small died on 1953-01-14.
Petition the court to open an estate. You can also petition to be the executor. You will then settle all debts, value the estate, pay the appropriate taxes and distribute the remainder.
There is a car, therefore, there IS an estate. Some states have an abbreviated form for very low value estates that will allow a vehicle to be sold without a great deal of paperwork.