We are on the Court Approved Appraiser List in New York.

Why Get a Date of Death Appraisal?

Probate Requirements: In many jurisdictions, probate courts require an accurate valuation of the deceased’s assets as of the date of death. A comprehensive appraisal helps facilitate the probate process by providing clarity on the value of the estate’s assets, ensuring adherence to legal requirements, and expediting the distribution of assets to heirs and beneficiaries.

Estate Tax Purposes: The value of assets at the date of death is crucial for calculating estate taxes and inheritance taxes. By obtaining a precise appraisal, executors and beneficiaries can accurately assess tax liabilities, minimize potential disputes with tax authorities, and ensure compliance with tax laws.

Fair Distribution of Assets: A Date of Death Appraisal helps ensure equitable distribution of assets among heirs and beneficiaries according to the wishes of the deceased or in accordance with legal requirements. By establishing the fair market value of each asset, conflicts over asset distribution can be minimized, and the integrity of the estate settlement process can be upheld.

Legal Compliance: Executors and estate administrators have a fiduciary duty to act in the best interests of the estate and its beneficiaries. Obtaining a Date of Death Appraisal demonstrates diligence in fulfilling this duty, providing transparency and accountability in estate administration and minimizing the risk of legal challenges or disputes arising from undervalued or overvalued assets.

Financial Planning: Accurate valuation of assets at the date of death enables heirs and beneficiaries to make informed decisions regarding the management, sale, or retention of inherited assets. Understanding the true value of inherited assets empowers individuals to develop sound financial strategies aligned with their long-term goals and objectives.