Date-of-Death Appraisal Essays
Our new two-essay series
Understanding Estate Valuation, Historical Property Values, and the Importance of Credible Appraisal Analysis
Settling an estate involves decisions that can carry financial consequences long after the process is complete. Among those decisions is establishing the Fair Market Value of inherited real estate as of the date the property owner passed away.
A Date-of-Death Appraisal, also known as an estate retrospective appraisal, provides a historical valuation that may be used for estate administration, tax reporting, property tax reassessment, and the distribution of assets among beneficiaries.
But why does that particular date matter? How does an appraiser determine what a property was worth years ago? And what distinguishes a credible retrospective appraisal from a number written on a page?
In this two-part series from Gatsby Essays, we explore the purpose, process, and professional responsibilities behind Date-of-Death Appraisals, drawing on more than two decades of residential appraisal experience throughout Los Angeles and Ventura Counties.