The value of an estate is calculated by adding together the "garage sale value" of personal property; the appraised value of assets like jewelry, art, and collectibles; the cash value of bank accounts and investment accounts; and the appraised value of real estate, and then subtracting the amount of secured debt. Secured debt is a loan that has collateral, such as a mortgage on a home, or a lien on a car. Credit card debt is typically not secured. It is still owed by the estate, but it does not reduce the value of the estate for purposes of figuring out the value of the estate, and in turn, which type of probate proceeding is required.