Estate and Date of Death Appraisals
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.
Why is a Date of Death Appraisal Required?
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.
When should the Date of Death Appraisal be done?
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 manycases, 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.
Count on Hooks and Associates to Act Quickly and Compassionately
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).
I am a seasoned expert in the field of estate and date of death appraisals, equipped with a profound understanding of the intricacies involved in this complex process. My expertise is grounded in a comprehensive knowledge of the United States Treasury Department Standards, State of California laws, IRS Standards, and the Uniform Standards of Professional Appraisal Practice (USPAP). Having actively engaged in numerous appraisals, I have demonstrated a mastery of the legal standards that estate and trust appraisals must adhere to.
In the realm of date of death appraisals, I am well-versed in the critical role they play, particularly for tax purposes. The appraisal is not just a formality but a crucial determinant of whether a federal estate tax return is owed to the IRS and, if so, the amount of estate tax payable. This value becomes paramount in the context of estate settlement and tax implications, underscoring the significance of accuracy in the appraisal process.
Hooks and Associates, a reputable firm in Los Angeles, stands out as a reliable choice for accurate estate appraisals. The firm's commitment to meeting the stringent legal standards is evident in its adherence to the USPAP and its certification as a California State Certified Real Estate Appraiser (License #AR006438). The firm's credibility is further bolstered by its recognition as a go-to option for individuals seeking precise estate appraisals.
The urgency of conducting a date of death appraisal is emphasized, with a strong recommendation for immediate action. The optimal time for obtaining a certified appraisal for the date of death is shortly after the passing of the homeowner, ensuring accuracy and reliability. However, Hooks and Associates acknowledges the diverse circ*mstances faced by clients and offers flexibility by providing retrospective appraisals for those unable to address the matter immediately.
A key element in Hooks and Associates' success is the compassionate approach taken during a challenging period for families mourning the loss of a loved one. The firm's Certified Real Estate Appraiser, John Hooks, boasts over 30 years of experience in estate and date of death appraisals. Executors, attorneys, accountants, and tax professionals increasingly rely on Hooks and Associates due to the firm's proven expertise and extensive experience in the field.
In conclusion, Hooks and Associates is positioned as a trustworthy partner for those in need of estate and date of death appraisals. The firm's blend of expertise, adherence to legal standards, and compassionate approach distinguishes it as a reliable choice in the demanding landscape of estate settlement. For those seeking accurate and timely appraisals, Hooks and Associates, with its State Certified Real Estate Appraiser, John Hooks, is a name to trust. Contacting the firm at 310-791-1444 is the first step towards obtaining a free quote for estate and date of death appraisals.
