The loss of a loved one is a difficult time in life and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
The majority of Americans do not have dedicated estate planners or executors to handle these issues. In most cases, a home or other real property makes up a disproportionate share of the total estate value.
Here too, an appraiser can help. Often the first step in fairly disposing of an estate is to understand its true value. An appraisal is required to establish fair market values of any real estate properties in the estate for tax filings and any presentation to multiple heirs. At this point, equitable arrangements can more easily be arrived at to dispose of the estate properly.
