Estate guide
Do I Need a Date of Death Appraisal?
If you're settling the estate or trust of someone who owned a home, you will very likely need to know what that home was worth on the day they passed. That's what a date of death appraisal establishes.
What It Is
A date of death appraisal is a retrospective appraisal: it gives the fair market value of the property as of the date of death, not today. It can be done weeks, months, or even years afterward.
When You Usually Need One
- Establishing the heirs' new cost basis (the "step-up in basis") for when the home is later sold
- Federal estate tax filings, when the estate is large enough to require one
- California probate inventory and trust administration
- Dividing property fairly among beneficiaries, or a buyout between siblings
Why Not Just Use an Online Estimate or a Realtor's Opinion?
Online estimates aren't tied to a past date and aren't signed by a licensed appraiser. A broker's price opinion is useful for listing, but CPAs and attorneys usually want a signed, USPAP-compliant report that documents the comparable sales and market conditions as of the date of death.
What to Have Ready
- The property address
- The date of death
- Who the report is for — attorney, CPA, trustee, or court
- Any photos or details about the home's condition at the time, especially if it has since been sold or remodeled
This guide is general information, not tax or legal advice. Talk with your attorney or CPA about your situation.
Need a Date of Death Appraisal?
Send the address and date of death — we reply within one business day.