Estate, probate & date-of-death

Overview

Estate and date-of-death appraisals establish a property's market value as of a specific date in the past — the decedent's date of death, or an alternate valuation date. Executors, estate attorneys, and CPAs rely on them to settle the estate, support the probate inventory, and establish the heirs' new cost basis.

Because the effective date is fixed and the audience is often the IRS or a court, this is work that has to defend itself. Every value is developed from market data available as of that date and documented so it holds up on review.

When to use it

Settling an estate or probate matter
Filing IRS Form 706 for taxable estates
Establishing a stepped-up cost basis under IRC § 1014
Equalizing distribution among heirs

What's included

USPAP-compliant retrospective appraisal report
Comparable sales as of the effective date
Interior inspection, or desktop / drive-by where access isn't possible
Signed certification suitable for IRS and court use

What we'll need for the engagement letter

Date of death (the effective date of value)
Decedent's name
Intended use — estate settlement, tax, or probate
Intended user — executor, attorney, or CPA

Questions

Yes. A retrospective appraisal develops an opinion of value as of a prior effective date — here, the date of death — using market data available as of that date.

Often, yes. The engagement letter names the intended user, whether that's the executor, the estate attorney, or the CPA preparing the return.

That's fine — retrospective valuations are routine. The further back the date, the more we rely on archived market data, which we source and document.