In addition to the very agonizing process of mourning, there’s a lot for the executor of a will to do after the death of a relative or friend. As an executor, you have to work closely with real estate professionals to facilitate the settlement process and most importantly, to fulfill the wishes of the departed loved one as accurately as possible.
A date of death appraisal is crucial for the executor when liquidating a home after the owner dies. Such an appraisal requires special expertise so as it can hold up in court, as well as satisfy the 1) United States Treasury Department Standards, 2) State of California laws, 3) IRS Standards, and 4) Uniform Standards of Professional Appraisal Practice (USPAP*). Estate and Trust appraisals MUST meet these four legal standards. For that reason, it’s important that the intricate task be delegated to a highly competent real estate appraiser in Los Angeles. For most people, Hooks and Associates is the go-to firm when the need for accurate estate appraisals arises.
More importantly, this type of appraisal is required for tax purposes. The appraisal is essentially used to establish whether a federal estate tax return is payable to the IRS, and the amount of estate tax, if one is owed. In other words, this value amount may be important for estate settlement and tax implications.
Part of Hooks and Associates’ drive is to provide accurate, ethical date of death appraisals that executors, lawyers, CPAs and tax professionals can rely on. Our expertise and knowledge of the estate valuation process will meet standards required by all parties involved.
Sooner is better. The task of ascertaining the value of a home at the time of death is easily accomplished if not too much time as passed. You’ll need to have a certified appraisal for the date of death.
However, in many cases, date of death appraisals are ordered between two to six months after the death of a loved one. While every situation is different, we strive to provide our esteemed clients with the best possible experience, regardless of their needs or the elapsed time. For those who aren’t able to handle these details immediately after their loved ones death, Hooks can do a retrospective appraisal for them.
We understand the intricacies involved in evaluating the value of a home or estate at a time when a family is mourning the loss of their loved one. Hooks and Associates is compassionate during this difficult time for the family.
Our Certified Real Estate Appraiser, John Hooks, is highly experienced, with more than 30 years providing estate and date of death appraisals. Executors, attorneys, accountants and tax professionals increasingly rely on Hooks and Associates for these types of valuations due to our expertise and experience in this field, and our compassion for their clients..
Contact us or call us at 310-791-1444 today at to get a FREE quote of your estate and date of death appraisal.
* Estate and Trust appraisals have been required to comply with USPAP since July 30, 2018, and can only be completed by a State Certified Real Estate Appraiser. Hooks and Associates is a California State Certified Real Estate Appraiser (License #AR006438).