What is a Qualified Appraisal?
Our Family Lawyer wants a qualified appraisal. What does that mean?
For estates, trusts, gifting to heirs or children, divorce, date of death, or other life changes, state and federal regulations require an independent valuation of the property. This may be a current date, a date from a few months ago, or even from many years ago. The attorney needs an accurate and impartial value that can be used for estate administration, and as a record for future concerns that may arise from family members, tax professionals, attorneys as well as the IRS and other governing groups.
Most requests need to follow the guidelines of the IRS, which considers a qualified appraisal to be one that complies with the requirements in Treasury Regulations Section 1.170A-13(c) and is conducted by a qualified appraiser in accordance with generally accepted appraisal standards. Ebert Real Estate Services has over 20 years' experience conducting qualified appraisals.
Contact Us, and we can discuss your needs.