Date of death valuations 


Estate tax liability. Disposition of assets under a will or in probate. There are many situations -- none of them lacking stress and complexity -- where you might need an appraisal of property that states an opinion of what the property was worth on a date some time ago, rather than when the appraisal is ordered. This is the date I need to complete the report. I recently had one that required a Death of Death and then another report more recently for tax purposes. It was a rather large estate involving several beneficiaries.  For estate tax purposes or disposition of a decedent's assets, a "date of death" valuation is often required. (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.) 

 

At times there are several parties involved to settle the estate. Someone with experience and knowledge will help all parties navigate and understand the appraisal process and how to arrive at a value.


Attorneys, accountants, executors, and others rely on Ray Underhill for "date of death" valuations because such appraisals require particular expertise and training. They need a firm that's been in the area for some time and can effectively research comparable contemporaneous sales. 

Real property isn't like publicly traded stock or other items that don't fluctuate in value very much or for historical public data. Also, it's the most significant asset they have in their financial portfolio for most. Therefore, the appraisal is one of the most critical parts in settling the estate.

I have heard from some appraisers it is only a "Date of Death Valuations," but they do not realize it could be audited by the IRS, and they are held responsible for the content of that report. In fact, due to the nature of the appraisal, even more, consideration should be taken so that everyone understands how the value was arrived at. Maybe it requires more of an explanation if it's a complex property or the property's condition is unusual.  The report needs to be well written so that the average user can clearly understand its content.

Since Ray lives in Crestwood Village, a 55+ community, he knows the area and market. He has had experience in The Crestwood Villages, Cedar Glen West, Cedar Glen Lakes, Holiday City, and Leisure Village, to name a few. Ray can handle your estate needs for valuation purposes.  One less worry.   One more step toward the island trip you deserve or a much-needed trip to Paradise in another location. 

 

We are here to save you time and money.  We understand your loss. 


 You need a professional real estate appraiser, bound by the Uniform Standards of Professional Appraisal Practice (USPAP), for a high degree of confidentiality and professionalism. In addition, you need the kind of quality report and work product taxing authorities and courts need and expect. 

 

Please browse our website to learn more about our qualifications, expertise, and services offered.       
              
Thank you for visiting my page. Call me. 609-203-1194 or text me.



 

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