Date of death valuations - IRR-Residential Zenith Appraisals

Date of death valuations

Estate tax liability. Disposition of assets under a will or in probate. There are many situations -- none of them lacking stress and complexity -- where you might need an appraisal of property that states an opinion of what the property was worth on a date some time ago, rather than when the appraisal is ordered. For estate tax purposes or disposition of the assets of a decedent, a "date of death" valuation is often required. (Sometimes, the executor of the estate may choose to have the date be six months after the date of death -- but the same principles apply.)

Attorneys, accountants, executors and others rely on IRR-Residential Zenith Appraisals for "date of death" valuations because such appraisals require special expertise and training. They require a firm that's been in the area for some time and can effectively research comparable contemporaneous sales.

Real property isn't like publicly traded stock or other items which don't fluctuate in value very much or for which historical public data is available. You need a professional real estate appraiser, bound by the Uniform Standards of Professional Appraisal Practice (USPAP) for a high degree of confidentiality and professionalism, and you need the kind of quality report and work product taxing authorities and courts need and expect.

Please browse our website to learn more about our qualifications, expertise and services offered.

PRIVACY STATEMENT

1. Our privacy principles: We are committed to protecting our clients’ personal and financial information. This privacy statement addresses what nonpublic personal information we collect, what we do with it, and how we protect it.

2. How we protect information: We restrict access to any nonpublic personal information about you that we collect to those employees who need to know that information to provide products or services to you. We maintain physical, electronic, and procedural safeguards that comply with federal regulations to guard your nonpublic personal information.

3. Where do we collect information from: We may collect and maintain nonpublic personal information in the course of providing you with the appraisal services you requested, including:

Information we receive from you on applications, letters of engagement, forms found on our web site, correspondence, or conversations, such as your name, address, telephone number and social security number.

Information about your transactions with us, our affiliates or others, including, but not limited to, payment history, parties to transactions and other financial information.

Information we receive from a consumer reporting agency such as a credit history.

4. What information we may disclose:

OPTION #1: We do not disclose nonpublic personal information about clients or former clients except as permitted by law. (If you select this option and you in fact don’t share information with anyone, then your form is done – if you share information as permitted under one of the exceptions, i.e., as permitted by law, then you will need to include that disclosure. See, for example part C(3) of the article on preparing a disclosure form.)

OPTION #2: We may disclose the nonpublic personal information about you described above, primarily to provide you with the appraisal services you seek from us.

5. Who we share information with: Unless you tell us not to, we may disclose nonpublic personal information of the type described above about you to the following types of third parties:

· Financial service providers as they pertain to your business, such as banks and lending institutions, estate planners, mortgage brokers, tax attorneys, etc.

· Non-financial companies as they pertain to your business, such as retailers, direct marketers, etc.

· We may also disclose nonpublic personal information about you to nonaffiliated third parties as permitted by law. (If you include this provision then you will also need to include another section identifying the types of nonaffiliated third parties to whom you are referring in this provision, See, for example part C(3) of the article on preparing a disclosure form.)

· You may limit information shared about you. If you prefer that we not disclose nonpublic personal information about you to third parties, you may opt out of those disclosures, that is, you may direct us not to make those disclosures (except those permitted by law). If you wish to opt out, please notify us in writing at the above address.