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.