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We understand the stress and emotional roller coaster the loss of a family member has on all the members of the family. We are here to help make this part of the process as easy on the "Executor" or family member who is in charge of the estate. Estate tax liability. Disposition of assets under a will or in probate. There are many situations -- none of them lacking stress and complexity -- where you might need an appraisal of property that states an opinion of what the property was worth on the date when the family member passed away, rather than when the appraisal is ordered. For estate tax purposes or disposition of the assets of a decedent, a "date of death" valuation is often required. The Appraiser will need to know the Date of Death. If any improvements have been done at the property, since the date of death? Sometimes, the executor of the estate may choose to have the date be six months after the date of death -- but the same principles apply. We need to know this information at the time of the Appraisal Order Request, so we can pull the correct data. Attorneys, accountants, executors and others rely on Laguna Woods Appraisals for "date of death" valuations because such appraisals require special expertise and training.
My appraisal reports include my MLS Research Criteria Search (for the last 12-36 month period). Market Statistics data for all of the product type (sf, lot size, etc.) in the market search area. A Market Sales graph going back ~ 3 years for the product search criteria, showing the market trend over time. You need a professional real estate appraiser, bound by the Uniform Standards of Professional Appraisal Practice (USPAP) for a high degree of confidentiality and professionalism, and you need the kind of quality report and work product taxing authorities and courts need and expect. |
Date of Death Valuations