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Appraisals for Estates, Donations, and Taxation
At Bibeault Appraisals, we are committed to providing credible, IRS compliant reports for estate settlement, donations, and other tax reporting uses. We strictly adhere to the guidelines of IRS Publication 561, and our Appraisers are experts in the requirements set forth by the Internal Revenue Service. Request a Quote
FAQs
Why should I get an appraisal?
Estate settlements and donations involving commercial properties can be intricate and complex. There are multiple reasons to order a real estate appraisal for these uses:
Fair Distribution: An appraisal provides a clear and unbiased valuation of the estate’s assets, which helps in dividing them fairly among heirs or beneficiaries. A professional appraisal may also reduce the likelihood of disputes among beneficiaries by providing a professional, objective value.
Tax Purposes: An appraisal helps in determining the fair market value of the estate at the time of the decedent’s death, which is essential for calculating estate taxes.
Legal Requirements: Many jurisdictions require an appraisal as part of the probate process to establish the value of the estate. A professional appraisal provides necessary documentation for the court to validate the value of assets and ensure proper administration of the estate.
Settlement of Debts: Appraisals help in determining the value of assets that may need to be sold to pay off any debts or obligations of the estate. It provides a clear understanding of the asset’s worth to facilitate any necessary sales.
Avoiding Legal Issues: Proper appraisals mitigate the risk of issues with tax authorities by providing a defensible basis for the reported values of estate assets. An appraisal can help defend against potential legal challenges or claims related to the value of the estate.
How long do appraisals for estate settlements / IRS reporting take?
Appraisals for conventional commercial properties typically take 2-3 weeks (10-15 business days) to complete. Appraisal reports completed for the IRS generally require a higher level of reporting because of the additional guidelines set forth by the IRS.
Why should I choose Bibeault Appraisals for my estate settlement / donation appraisal?
Independent, Well-Supported, and Accurate Appraisals: Our appraisers are committed to professional integrity and independence, and employ contemporary methods of analysis to ensure that your appraisal is accurate and defensible. We give individualized attention to each appraisal and perform the necessary due diligence for each assignment. Before transmittal, your appraisal will be rigorously reviewed for quality and accuracy.
Timeliness: We are always willing to accommodate the strict timelines of CPAs, lawyers, and property owners. We are committed to meeting our deadlines and providing prompt answers to any inquiries or possible revisions.
One-on-One Attention: Our view is that every client deserves individual attention. We are committed to treating every client with the utmost respect, helping them navigate the appraisal process and answering any questions they may have along the way. We always have time for your inquiries and follow-up questions, and are committed to making the appraisal process as seamless as possible.
Professionalism and Expertise: All of our commercial appraisers are licensed professionals who approach every assignment with solemnity. We are versed in contemporary methods of analysis and data collection, and ensure that every report is well-written, defensible, and credible.
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