Why Estate Appraisals Require Extra Care
When settling an estate, the home is often the most valuable and emotionally charged asset involved. Getting the valuation right matters — not just for legal compliance, but for preserving family relationships during an already difficult time.
An inaccurate valuation or skipping the appraisal entirely can trigger disputes among heirs, IRS complications, and costly delays in closing the estate. A professional appraisal gives everyone a single, defensible number to work from.
A professional estate appraisal helps you:
Meet IRS and probate requirements — A certified appraisal satisfies courts, attorneys, and tax authorities.
Prevent family conflict — An impartial third-party valuation removes personal opinion from the equation.
Close the estate faster — A clear, well-documented report avoids delays and back-and-forth.
Date-of-Death vs. Current Market Valuations
Estate appraisals often require a retrospective valuation as of the date of death — for IRS estate tax purposes — or a current market value for distributing the property among heirs. We handle both, and we'll help you determine which type your situation requires before you order.
The date-of-death appraisal is particularly time-sensitive. The IRS requires that valuations reflect market conditions as of the decedent's date of death, not the date the appraisal is ordered. We have experience with retrospective appraisals and understand the documentation standards required.
What the Process Looks Like
Step 1 — Free consultation. We discuss your situation, the property, and which type of appraisal is appropriate. We'll give you an exact fee quote upfront.
Step 2 — Property inspection. We schedule the visit at a time that works for the executor or family member with access. The inspection takes 30 to 60 minutes.
Step 3 — Report delivery. You receive a USPAP-compliant report typically within a few business days. The report is written in plain language that heirs, attorneys, and the IRS can all follow.
Ben Goheen, Minnesota Certified Residential Appraiser (License #20303548), personally conducts and signs every appraisal. We serve executors, attorneys, and families across all seven Twin Cities metro counties — Hennepin, Ramsey, Dakota, Anoka, Washington, Scott, and Carver.
Frequently Asked Questions
Does the estate need a current appraisal or a date-of-death appraisal? It depends on the purpose. If you're distributing assets among heirs at current value, you need a current appraisal. If you're filing an estate tax return or establishing a stepped-up cost basis for capital gains, you need a date-of-death appraisal. We'll help you sort this out during the free consultation.
The property is vacant or the family hasn't been in recently — is that a problem? No. We work with executors and attorneys regularly and are used to coordinating access to vacant or occupied properties. Just let us know the situation when you call.
How soon can you turn around the report? Typically within 3 to 5 business days of the inspection. If there's a filing deadline, let us know and we'll do our best to accommodate it. Call 651-505-4400 to discuss timing.
