An estate appraisal is a certified property valuation required when real estate passes through a deceased person's estate. Estate appraisals are used for probate court proceedings, estate tax filing with the IRS, equitable distribution among heirs, and calculating the stepped-up cost basis for capital gains purposes. These appraisals must be completed by a state-certified appraiser and follow IRS and USPAP guidelines.
You need an estate appraisal when a property owner passes away and the estate must be settled. A date-of-death appraisal establishes the fair market value as of the date of passing — not the current value — which is critical for IRS Form 706 estate tax returns and for heirs who plan to sell the property later. Estate appraisals are also needed for trust distributions, equalization payments between heirs, and charitable donation deductions.
AppraiserEngine appraisers understand the specific documentation requirements for estate and probate work. Their reports are formatted for IRS submission and probate court acceptance. They are accustomed to working with estate attorneys, trust officers, and executors to meet filing deadlines and provide the retroactive valuation data the estate needs.
A date-of-death appraisal values a property as of the exact date the owner passed away, not as of the current date. The appraiser researches market conditions that existed on that date and uses comparable sales from that period to arrive at a historically accurate opinion of value.
For estates required to file a federal estate tax return (Form 706), a qualified appraisal by a qualified appraiser is required. The IRS has specific requirements about appraiser qualifications and report format. AppraiserEngine appraisers meet these standards.
Yes. One of the most common uses of a date-of-death appraisal is to establish the stepped-up cost basis for heirs who inherit property. This figure is used when the inherited property is eventually sold to calculate capital gains — making accuracy critical.
AppraiserEngine connects homeowners, attorneys, and lenders with certified, experienced appraisers in your area.
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