Do estate appraisals have to be dated to the date of death?

Yes for probate and basis purposes. The effective date is the date of death, or the alternate valuation date six months later if the estate elects it. The report states which date was used and why.

Can you appraise a property that was sold before the appraisal was ordered?

Yes. Retrospective appraisals are routinely completed after a sale using historical data, prior listing photographs, permits, and public records to describe condition as of the effective date.

Will the IRS accept the report?

Reports are prepared under USPAP by a state-certified appraiser, with a stated effective date, intended use, and supporting data, which is what the IRS requires for a qualified appraisal of real property.

Service

Estate and Probate Appraisals in South Florida

An estate appraisal establishes a property's fair market value as of the date of death or an alternate valuation date. Personal representatives, trustees, and CPAs use it for probate filings, step-up in basis, and equitable division among heirs. Reports are retrospective and IRS-compliant.

Estate work is retrospective: the effective date is in the past, and the analysis must rely only on data available as of that date. That discipline is what makes the report defensible to the IRS, the probate court, and the family.

Typical fee: $500–$1,000 depending on complexity and date of death
Turnaround: 3–5 business days; expedited filings accommodated
Report form: Narrative or URAR with retrospective certification

What is included in this appraisal

Retrospective effective date matching the date of death or alternate valuation date
Historical market data as of the effective date, with no hindsight
Interior inspection where access is available, or documented alternative scope
Statement of intended use for probate, trust administration, or tax basis
Certification suitable for filing with counsel or a CPA

Who needs it

Personal representatives and executors administering probate
Trustees dividing or distributing real property
CPAs establishing step-up in basis for heirs
Estate attorneys who need a report that survives review

How estate appraisals work

The personal representative provides the date of death and access to the property. The appraiser inspects the improvements in their current condition, then reconstructs the market as it stood on the effective date using sales that closed at or near that time. Any change in condition between the effective date and the inspection is identified and adjusted.

Step-up in basis

Heirs generally receive a basis equal to fair market value on the date of death. A credible appraisal documents that number, which reduces taxable gain if the property is later sold. Estimates from online tools and county assessments are not acceptable substitutes for tax reporting.

Dividing property among heirs

When one heir buys out another, or when several properties are allocated across beneficiaries, an independent value removes the argument. The report addresses each property on its own facts and states the reasoning behind the conclusion.

Frequently asked questions

Do estate appraisals have to be dated to the date of death?: Yes for probate and basis purposes. The effective date is the date of death, or the alternate valuation date six months later if the estate elects it. The report states which date was used and why.
Can you appraise a property that was sold before the appraisal was ordered?: Yes. Retrospective appraisals are routinely completed after a sale using historical data, prior listing photographs, permits, and public records to describe condition as of the effective date.
Will the IRS accept the report?: Reports are prepared under USPAP by a state-certified appraiser, with a stated effective date, intended use, and supporting data, which is what the IRS requires for a qualified appraisal of real property.

Estate and Probate Appraisals in South Florida

What is included in this appraisal

Who needs it

How estate appraisals work

Step-up in basis

Dividing property among heirs

Frequently asked questions

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