Probate Appraisals or Date of Death Valuations
There are many situations –often stressful and complex in nature – in which an appraisal of property is needed to state an opinion of property value on a specific date in time. Determination of estate tax liability and the disposition of assets under a will or in probate are just two common non-lending situations, in which an appraisal is necessary. It is not uncommon for the necessary “effective date” of these types of reports to be several months, or even years, prior to the date of order. Similarly, for estate tax purposes or disposition of the assets of a decedent, a "date of death" valuation is often required.