Date of death valuations
Estate tax liability is one. Or disposition of assets under a will or in probate is another. There are many situations -- none of them lacking stress and complexity -- where you might need an appraisal of property that states an opinion of what the property was worth on a date some time ago (e.g. the date of death), rather than when the appraisal is ordered. For estate tax purposes or disposition of the assets of a decedent, a "date of death" valuation is often required. (On some occasions, the executor of the estate may choose to have the date be six months after the date of death -- but the same principles apply.)
Attorneys, accountants, executors and many others rely on Truex Appraisal Services, LLC and/or Truex Residential Appraisers, Inc. for fair market "date of death" valuations because such appraisals require special expertise and training. They require a firm that's been in the area for some time and can effectively research comparable contemporaneous sales.
Real property is not like publicly traded stock or other items which don't fluctuate in value very much or for which historical public data is available. You need a professional real estate appraiser, bound by the Uniform Standards of Professional Appraisal Practice (USPAP) for a high degree of confidentiality and professionalism, and you need the kind of quality appraisal report and work product that taxing authorities and/or courts need and expect.
Please, browse our website to learn more about our qualifications, expertise and our real property valuation services offered (both residential and commercial real estate). Please note that our estate valuations are made using the IRS definition of Fair Market Value.