Date-of-death appraisals for estates, trusts and probate.
Losing someone is hard enough. Dawna provides retrospective appraisals that show what a home was worth on the date of death, so executors, trustees, and heirs can settle the estate with confidence.
Common reasons people call
- Trust administration, when the home passes through a living trust instead of probate
- Selling an inherited home and documenting the stepped-up cost basis
- Estate tax returns, when your CPA says one is required
- One heir is buying out the others and everyone wants a fair number
- Supporting your attorney in probate if a value is questioned
- Parent-child transfer planning with your CPA or attorney
Your appraisal includes
- A retrospective opinion of market value as of the date of death
- Comparable sales from around that date, not from today
- Condition based on the inspection, family photos, and records from that time
- A signed report prepared to USPAP standards that your CPA, attorney, or trustee can keep on file
Why the date-of-death value matters
When you inherit a home, its cost basis is generally "stepped up" to its fair market value on the date of death. A credible appraisal documents that value, which can greatly reduce capital gains tax when the home is later sold. Always confirm tax questions with your CPA.
A trustee also has a duty to treat beneficiaries fairly. An independent appraisal gives everyone the same starting point, which heads off disagreements before they start.
Questions people ask.
Every situation is a little different. If yours isn't covered here, call Dawna.
How far back can you appraise?
Months or even years. As long as there were enough sales around that date, Dawna can value the home as of the date of death.
The house was already sold. Is it too late?
Usually not. A retrospective appraisal can still be done, and it is often exactly what a CPA needs to support the stepped-up basis.
Do you need to go inside?
An inspection helps. If the home has changed since the date of death (cleared out, repaired, or sold), Dawna works from photos, descriptions, and records of how it was then.
Is this the same as the probate referee's value?
No. The probate referee is appointed by the court for the inventory in probate cases. Dawna's appraisal is independent and is commonly used for trusts, taxes, and buyouts, or as support for your attorney.
Can the estate pay for the appraisal?
In many cases it is treated as an estate administration expense. Check with your attorney or CPA.
Let's get you a value you can rely on.
Tell Dawna what you need.
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