Estate Planning & Date of Death
When you’re going through a divorce, the judge will usually order an appraisal of the overall assets of either one or both partners (depending on the job situation of both partners and the length of time that you were married.) This appraisal determines the overall value of the real estate that one or both partners owns in order to make an informed division of the two partners’ assets. This division is a big part of the divorce property settlement and without a good divorce appraiser to value the real estate assets that will be divided; it is more than possible to lose more than your share in the divorce property settlement.
There are many factors involved in the settlement of the estate of a deceased and this can be a very stressful and complicated process. An executor of an estate is responsible for a number of tasks, including finding and managing assets, determining who inherits property, paying debts and ongoing expenses, etc.
Before the beneficiary of an estate takes full possession of an inherited estate, an Estate appraiser would generally be needed to value the real estate for the purpose of tax basis. The common practice is for the attorney or accountant recommend a trusted appraiser, or instruct the family to choose an appraiser experienced in these matters.
The most common form of appraisal is done based on a prior date. This is commonly referred to as a “Retrospective Appraisal”. The preferred date is the date of death of the deceased. In addition, an appraisal based on the current value of the estate may also be required as this would be necessary for the settlement of all parties involved.
Our clients can contact us at any time for an appraisal of the estate. Although some prefer to do this immediately after the death of their loved one, others may decide to have the appraisal completed a few months to a year after. Irrespective of the time that may have elapsed, our team of certified appraisers at Los Angeles Mansion Appraisers is knowledgeable in performing appraisers of this nature.
Our Chief Appraiser, Jason Fischman, SRA, AI-RRS, ASA, IFA, AGA, RAA, MNAA, HMS, GREEN has 26+ years of experience in Real Estate Appraisals for Estate Settlement and Probate matters. He is a State Certified Real Estate Appraiser, and a designated member of the Appraisal Institute (SRA, AI-RRS), American Society of Appraisers (ASA-RP), the National Association of Independent Fee Appraisers (IFA), the National Association of Realtors (RAA, GREEN), the National Association of Appraisers (MNAA, and Certification in Appraisal Review), and Earth Advantage (Accredited Green Appraiser).
Contact us today schedule an appointment for an appraisal, or with any questions you may have. You may also review our ‘Praise’ page and see what others are saying about Jason Fischman and Los Angeles Mansion Appraisers.
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