We compose appraisal reports that transcend the requirements of the courts and other agencies. Date of death valuations Estate tax liability. Disposition of real estate assets under a will or in probate.
You might need an appraisal of property that states an opinion of what the property was worth on a date some time ago (retrospective), rather than when the appraisal is ordered.
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. Generally, settling an estate necessitates an extensive appraisal report to establish market value for the home to the satisfaction of the parties involved.
Opinions of value used in documents provided to the IRS and Arizona agencies definitely should be backed by an exhaustive report as to how the appraiser acquired his conclusions. Such a report will clearly demonstrate to the authorities that the numbers used are accurate and substantiated.
We understand that the time an appraisal is requested will deviate the date of death. We assures that are familiar with the procedures and requirements needed by the federal revenue agencies to provide a retrospective appraisal with an effective date and market value estimate matching the date your loved one passed away.
Additionally, the IRS required specific verbiage relating to the appraisers competency. We will provide the executor accurate facts and numbers that will exceed IRS revenue agency requirements.