A date of death appraisal sets the value of a property as of the day the owner passed away. Executors, trustees and heirs usually need one to settle an estate, and attorneys and CPAs rely on it for the tax work.
Why It Matters
Stepped-Up Tax Basis
When heirs inherit property, its tax basis is generally reset to its market value on the date of death. A well-supported value can help reduce capital gains tax when the property is sold.
Estate Taxes and Dividing Property
Attorneys and CPAs use the appraisal for estate tax returns and to divide property fairly between heirs. In some cases the estate can use an alternate valuation date six months after death, and we can appraise as of that date too.
Trust Administration
Trustees rely on a documented value to manage, distribute or sell trust property, and to show the value was set by an licensed professional.
Recent or Past, We Can Help
Recent Date of Death
We inspect the property as it is today and value it as of the date of death.
Past Date of Death
Months or years later? We value the property as of that date using records and sales from that time, even if it has since been sold, remodeled or cleared out.
What the Report Covers
A written appraisal prepared by a Certified General appraiser to USPAP standards, ready for the IRS, your attorney or your CPA. It includes an inspection (or a records-based review if the property is no longer accessible), comparable sales from around the date of death, and a clear final value. On complex assignments, MAI-designated reviewers on our team step in.
How It Works
1
Tell Us About the Property
Send the address, the date of death, a contact for access, and your attorney’s or CPA’s contact if you’d like us to work with them. We’ll reply with a fee and timeline.
2
We Inspect and Research
We visit the property and study sales from around the date of death.
3
You Get the Report
A written report, ready to hand to your attorney or CPA.
Ready to get started? Tell us about the property.