Settling an estate can be as stressful as it is important. The executor has been entrusted to carry out the wishes of the deceased as swiftly and accurately as possible. We recognize this and act quickly while recognizing the need for sensitivity to the feelings of everyone involved.
Attorneys and Accountants rely on the appraisal value in helping with settling an estate. They are aware that having a professional appraisal provides the executor accurate facts and figures to work with in order to meet IRS and other state agency requirements. Settling an estate usually requires an appraisal to establish Fair Market Value for the residential property involved as of the date of death. That typically differs from the date the appraisal is requested. We have had substantial experience with retrospective appraisals as they are called.
All too often, people do not fully appreciate the need to have a detailed real estate appraisal prepared in support of the numbers being used in documents filed with revenue authorities.
It is very important that opinions of value used in estate filings with the revenue authorities should be supported by a detailed report in order to demonstrate to the authorities that the figures used are accurate and substantiated.