Estate Planning & Settlement

We know that settling the estate of a loved one is a difficult time. When the estate has a transfer of ownership you'll likely need to know the value of all real estate assets for tax purposes and, possibly, for distribution of benefits to beneficiaries.

When it comes to managing the real estate affairs of a loved one who has passed away it's likely that at least a couple of months has passed since your loved ones date of death, possibly even a year. When the appraisal is done for estate purposes you'll need to know the value of the asset on the day of death, this is a retrospective appraisal, though it is sometimes referred to as a day of death appraisal. A complete appraisal is done but when the appraiser is evaluating the comparables to use the appraiser does research to determine which comparable properties were available one the day of death - creating an appraisal as though it was done on the day of the death.

Once you know the value on the date of death, usually needed for tax purposes, you'll need to do decide what to do with the real estate. If you're thinking about selling it then you'll want to know the homes current value. If the markets are stable and just a month or two has passed it may be possible that the day of death appraisal is good enough. However, if the market is fluctuating or if a couple of months has passed then you many want to know the actual current value in comparison to the day of death appraisal. We can leverage from the day of death appraisal and create a current value appraisal.

Let Weise Appraisal Services provide a little relief for you during difficult times by creating a high quality, accurate and reliable appraisal report.