Estate & Trust Appraisal

Expert Estate Appraisals for Peace of Mind.

At Eagle Home Appraisal, we understand that settling an estate can be an arduous process. As a trustee, executor, or administrator, there are numerous steps to go through, and it can be overwhelming. That’s where we come in – our job is to provide you with the valuation information you need to make the best decisions while keeping your privacy at the forefront of this stressful process.

Our Specialization in Estate Administration and Probate Assets

Over the years, we have built a network of inspectors, appraisers, attorneys, and realtors that specialize in estate administration and assets held in probate. We are equipped to respond quickly and confidently to all your concerns and provide you with the support you need from the beginning to the end of the estate settlement process.

The Importance of Professional Appraisals for Real Property Assets

When accounting for real property assets, it is crucial to work with an experienced, qualified, and certified appraisal expert. A professional appraisal provides the administrator with a reliable basis to support their fiduciary responsibilities, ensuring peace of mind for all parties as the assets are distributed among the heirs or tax basis is set.

Determining a New Tax Basis or Step-up Valuation

The most common scenario in estate appraisals is to determine the fair market value as of the date of passing, referred to as a date of death appraisal. When a beneficiary inherits property from a loved one, a step-up in basis is the value on the date of death. This step-up in basis can be a substantial tax benefit for beneficiaries.

For instance, if a property is owned free and clear and is sold today by a beneficiary for $500,000, they would have to pay tax on the entire amount. However, if the owner passed away two years ago, we would determine the value as of that date. If the appraised value was $400,000, that would be the tax basis, and the heir would pay tax only on the $100,000.

Retrospective Value Appraisals

We specialize in retrospective or historical appraisals and analysis. Properties held in a trust, probate, or divorce often require effective dates sometimes years in the past. We have appraised property going all the way back to 1987. Retrospective reports take more time to gather accurate sales and market condition data, and our fees go up the further back in time you go. However, they are worth the investment and tax savings.

In cases of divorce, it’s common for us to determine retrospective value as of the date of marriage, as well as a current value appraisal. Our appraisers take the time to explain the process and reasoning behind the appraisal, and we have developed a system of reporting that is easy to read by the layman but still contains robust support and analysis that can hold up under scrutiny.

At Eagle Home Appraisal, we strive to treat every client with empathy and respect for the loss of their loved one. We are here to explain the process and take the burden off your hands, giving you peace of mind during this difficult time. Our online reviews speak to the quality of our service, and we hope to earn your trust through our expertise and professionalism. Call, text, or email us with any questions – we are here to help.