Appraisals for Estate Settlement
The responsibility of settling an estate or trust, often a source of stress is very important. As an executor you have been entrusted to carry out the wishes of the departed as swiftly and with as much dignity as possible. You can count on us to act quickly and with as much sympathy to the feelings of everyone involved. Part of AVK Appraisal Services's drive is to supply top-notch, ethical appraisals that attorneys can depend on.
There are required needs for everyone; we understand these necessities and are acclimated to working with all parties involved. Generally, settling an estate requires a clear appraisal report to determine fair market value for the home to the satisfaction of the parties involved.
We empathize that in times like this, ordering an appraisal is the furthest thought from your mind. Due to this, there is a chance that the time of death differs from the date the appraisal is ordered. Our staff is familiar with the systems and requirements obligatory to supply a retrospective appraisal with an effective date and fair market value estimate matching the date you suffered the loss of your loved one.
The ethical obligations listed within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us to confidentiality, guaranteeing the highest degree of discretion for you and your family.
Clearly it is important to reach well documented, defensible appraisals when used for representing values to the IRS. Often we prepare appraisals for the date of death that establishes a cost basis. One of the most necessary requirements in an appraisal is an appraiser-backed opinion of value in a comprehensive explanation as to how the appraiser came to his conclusion.
In having a report backed by AVK Appraisal Services's professional appraisers, you will have the understanding that the numbers shown in the report will certainly demonstrate to government agencies that the numbers used are accurate and correct.
An executor can feel secure with an appraisal by AVK Appraisal Services which will show solid facts and numbers to work with when the property is being sold, kept "in the family" or in a trust. Disputes do occur among beneficiaries and it's good to have a mature professional working with you, the client. Opinions of value used in documents filed with the IRS and CA state agencies absolutely should be backed by an exhaustive report as to how the appraiser acquired his conclusions.
What We Need From You
To get started, we typically need access to the property, the date of death or the effective date the appraisal should reflect, and any relevant documentation you already have — a deed, prior appraisal, or list of recent improvements. We coordinate directly with executors, trustees, attorneys, and CPAs, and we're comfortable working around the schedules of multiple beneficiaries when access needs to be arranged carefully.
Turnaround time depends on the complexity of the estate and the property itself, but we understand that estate matters often come with deadlines set by the court, the IRS, or other beneficiaries, and we work to accommodate them.
Trust Appraisals
Beyond probate, we also appraise real property held in a living trust or being distributed among trust beneficiaries, providing the same well-documented, defensible reports trustees need to fulfill their fiduciary responsibilities.