Estate Planning & Date of Death

Navigating Estate Settlement with Professional Real Estate Appraisals

The estate settlement process can be intricate and unfamiliar, often encountered during the difficult times of a loved one’s passing.

Choice Appraisals Services, LLC is your trusted guide in understanding estate settlement, particularly regarding the role of real estate appraisals.

The Crucial Role of Real Estate Appraisals

During estate transfers following death or inheritance, real estate appraisals play a pivotal role, primarily for tax purposes.

Typically, estate attorneys or accountants either commission an appraisal or delegate the appraiser selection to a family member or executor during the settlement process.

Timing the Estate Appraisal

Based on our extensive experience, estate appraisals are commonly requested within 2-6 months of a loved one’s passing or property inheritance. The timing can vary, with some appraisals ordered immediately and others delayed for a year or more, contingent on the circumstances.

Unpacking Retrospective Appraisals

Estate settlements often involve retrospective appraisals. These assessments determine a property’s value based on a specific prior date, frequently the date of the property owner’s passing. They are commonly referred to as ‘date of death’ appraisals.

Addressing Varied Appraisal Needs

In estate settlement, more than one type of appraisal may be necessary. A ‘current value’ appraisal helps ascertain the property’s present market value, vital for sale or equitable distribution among heirs.

Tailored Estate Appraisals for Your Unique Needs

Every estate is distinct, and the required appraised value depends on the estate’s unique circumstances. You don’t need to navigate this complexity alone. Your estate attorney or accountant can assist you in determining the type of appraisal your estate requires. We’re also ready to collaborate with your attorney or accountant to clarify your precise appraisal needs.

Our company brings a wealth of experience to estate and date of death valuations. You can have complete confidence that your estate appraisal needs will be met with the utmost professionalism and precision.

Give us a call today with any questions you might have at 502-309-2323 or fill out a request for a free quote.

LOUISVILLE APPRAISER

Conrad Meertins Jr is one of the leading appraisers in the area as well as a highly requested speaker, consultant, and more.

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