Estate Settlement Appraisals
While losing a loved one can be a very emotional and difficult time, the disposition of an estate by the executor is an important responsibility that has been entrusted to this person to carry out the wishes of the deceased as promptly and exactly as possible. Therefore, it is judicious to determine the value of the property at the date of death for estate tax purposes between heirs and any other beneficiaries. The appraisal can be completed as a retrospective appraisal with the effective date of the appraisal being a historical date (date of death). However, try not to postpone the appraisal report too long, as the appraisal may be more difficult to complete due to sales data being more limited from the data sources available.
We've shown that we're experts in providing appraisals that attorneys and accountants have come to rely on. Often, everyone involved will have differing ideas of how the appraisal process should work; however, our experience of the estate process will undoubtedly satisfy all parties involved. Among our staff, we are used to interacting with legal agencies in creating appraisals that meet their necessities.
Usually, settling an estate necessitates an irrefutable appraisal report to ascertain market value for the home to the satisfaction of the parties involved. It's understandable that ordering an appraisal is the farthest thought from your mind. So, there's a chance the time an appraisal is ordered will differ significantly from the date of death. Maxwell Appraisal Services assures that our appraisers are accustomed to the procedures and requirements needed by the federal and California revenue agencies to produce a retrospective appraisal with an effective date and market value estimate matching the date you suffered the loss of your loved one. The ethical requirements listed within the Uniform Standards of Professional Appraisal Practice (USPAP) binds our staff to confidentiality, ensuring the highest degree of privacy for all parties involved.
It is often misunderstood by most people, of the necessity of needing a real estate appraisal when working with the IRS to explain income when filing documents.
One of the most significant requirements in an appraisal is an appraiser-backed opinion of value in a detailed reason as to how the appraiser came to his conclusion. In having a report supported by Maxwell Appraisal Services' expert staff, you will have the knowledge that the numbers shown in the report will demonstrate to the IRS that the numbers used are well founded and correct.
Maxwell Appraisal Services guarantees a well-founded report, which will give an executor solid facts and numbers that will meet IRS and state agency requirements. There's no need to be stressed out when getting an appraisal from us because we will stand by it no matter what.