Estate Settlement

Settling an estate that includes real estate is often the most complex part
of the probate process. Unlike a bank account that can be closed with a
death certificate, property is “real” property—it’s fixed, requires maintenance,
and involves a formal transfer of title.

Valuation and Appraisal

To satisfy the IRS and ensure fair distribution among heirs, you need a formal

valuation as of the date of death.

• Date of Death Value: This establishes a “stepped-up basis.” If the house
  was bought for $50,000 in 1980 and is worth $500,000 when the owner dies,
  the heirs’ tax basis becomes $500,000. If they sell it immediately, they pay
  zero capital gains tax.
• Professional Appraisal: A certified appraiser provides a defensible value
  for tax purposes, whereas a Realtor’s “Comparative Market Analysis” (CMA)
  might not be sufficient for the court or the IRS.

To see some examples of properties that we have appraised for estate
settlement purposes, click here.