Estate Appraisals

Estate Appraisals are used for a variety of reasons related to estate planning or the settlement of an estate. They may be used by the estate executors, accounts and attorneys to determine values as of the date of death “retrospective” or currents for estate distribution or planning.

The determined value may be used for a variety of purposes.

*Tax Basis: Real Property receives a new tax basis when it inherited. Beneficiaries will need to know its value to properly calculate capital gains tax. A well documented and defensible appraisal is necessary for inherited property that is to be gifted or bequeathed.

*Estate Taxes: The estate may or may not be subject to federal or state estate tax, depending on the value.

*Estate Planning: When working on advanced planning, potentially moving assets into a trust or working to plan for taxes, an appraisal can be useful for making the most informed decisions.

*Splitting the Estate: If the will calls for the beneficiaries to divide assets equally, it is important to know the value of the key components of the estate, such as real estate.

Serving Tuolumne County, Calaveras County and Alpine County for over 40 years!

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