Cape Appraisals Blog

One of the most important steps in settling probate or determining an estate tax liability is valuation of an individual's interest in Real Estate.  The difficult part of this process is finding a competent professional that is experienced in placing a value on Real Estate for a specific date (date of death). 

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. For estate tax purposes or disposition of the assets of a decedent, 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.)

Rest assured that the appraisers at Cape Appraisals have the training and experience in completing these important assignments. 

Attorneys, accountants, executors and others rely on Cape Appraisals for "date of death" valuations because such appraisals require special expertise and training. They require 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 which don't fluctuate in value very much or for which historical public data is available. 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, and you need the kind of quality report and work product taxing authorities and courts need and expect.

As Appraisers, we are not able to give tax advice, however we do often communicate with the professionals that can.  One of these professionals is HJP Financial Services.  For tax advice, please call Herve Jean-Pierre at HJP Financial Services at (239) 274-8291 or visit www.hjpfinancial.com for mor information.