Date-of-death valuation

A date-of-death appraisal establishes what real property was worth on the day the owner died. It is a retrospective assignment: the effective date is in the past, and the analysis has to reflect the market as it stood then, not as it stands now.

Why the date matters so much

The value on that date sets the stepped-up cost basis for the heirs. Set it too low and the heirs pay capital gains on a gain they never had. Set it too high without support and the number will not survive review. The point is to get it right and to show the work.

Alternate valuation date

Federal estate tax rules allow an alternate valuation date six months after death in some circumstances. If the estate is considering that election, we can value both dates. Ask your CPA or attorney whether the election is available before ordering, because it only applies in specific situations.

How a retrospective appraisal is built

Inspect the property, then reconstruct its condition as of the effective date from photographs, permits, listing history, and the owner's records. Select comparable sales that were available to the market on that date. Analyze market conditions between the sale dates and the effective date, and adjust for them with evidence, not with a rule of thumb.

What you receive

A written appraisal report with the effective date stated, the comparables shown, and each adjustment explained. Prepared to USPAP, with the intended use and intended users named, so your CPA or attorney can rely on it.

Order one

Call 984-360-8050 or email claude@globalappraisal.net with the address and the date of death.