Date of Death
Appraisals

The assignment is a retrospective appraisal — the effective date is the decedent's date of death, which is in the past. The appraisal is developed using market evidence available as of that date, not current conditions. The deliverable is a written appraisal report documenting the retrospective scope, the date-of-death effective date, the market evidence, and the value conclusion.

Executors, trustees, attorneys, and CPAs use date of death appraisals when settling an estate that includes commercial real estate. For example, an executor administering an estate holding an interest in a retail property needs a value as of the decedent's date of death for estate tax and distribution purposes. The effective date is set to the date of death.

The analysis considers the property's characteristics and condition as of the date of death, market conditions and comparable evidence as of that date, the applicable value definition (typically fair market value), and the intended use. The valuation approaches applied depend on the property type and the historical data available. The conclusion is a supported opinion of value as of that past date, not a current value.

We begin by confirming the date of death as the effective date and the intended use. After agreeing on scope, we research market conditions and comparable evidence as of that date, analyze the data, and deliver a written appraisal report. Scope, fees, and timing depend on the property and the availability of historical market data.