Determining estate tax liability, navigating the disposition of assets under a will or during probate – these are just a few of the many high-stress, complex situations where you may require a retrospective property appraisal. This appraisal provides an opinion on what the property was worth at a specific past date, rather than the date of the appraisal order. In the context of estate tax purposes or asset distribution of a decedent, this is often known as a “date of death” valuation. In some instances, the executor of the estate may opt for the valuation date to be six months after the date of death, but the same guiding principles apply.
At Granite Appraisal Group, we’re trusted by attorneys, accountants, executors, and more for our expertise and training in “date of death” valuations. Performing such appraisals requires a seasoned firm well-versed in the area, capable of conducting effective research on comparable sales within the same time frame.
Unlike publicly traded stocks or other assets that don’t significantly fluctuate in value or where historical public data is easily accessible, real property demands a more nuanced approach. You need a professional real estate appraiser who is not only bound by the stringent Uniform Standards of Professional Appraisal Practice (USPAP) to ensure a high level of confidentiality and professionalism, but also adept at producing the quality of report that taxing authorities and courts expect and require.
We invite you to explore our website for more information about our qualifications, expertise, and the suite of services we offer. Trust Granite Appraisal Group for your “date of death” valuation needs to navigate these challenging situations with confidence and peace of mind.