Estate Planning Appraisals

A quality estate planning appraisal can help determine the value of assets. This is indispensable when the properties and assets need to be gifted or divided after death. When you keep an up-to-date appraisal on file, you help determine the increase of property value as well as growth or loss margins.

Real Estate Appraisals and Estate Planning

When a loved one dies, it can be one of life’s most challenging events. While dealing with grief, there’s a series of legal processes needed to reallocate ownership of assets and belongings to beneficiaries.

It’s always easier when a will has been provided, complete with an estate appraisal. When settling the estate, the sum of the assets and belongings must be determined, and having one on file can help reduce the time required.

Settling the estate usually involves probate, which is the legal process of reassigning ownership from the deceased person to their living beneficiaries in court. This process can be avoided if there was appropriate planning done in advance. This can be handled in the form of a trust or a will, both options having had been drafted before passing away.

The Importance of Estate Planning Appraisal

Estate Taxes:

The main reason a real estate appraisal is performed is to decide estate taxes. Federal and State-level estate taxes exist at a certain threshold. This cap is adjusted for inflation each year. Estate taxes are sometimes referred to as the “death” tax or inheritance tax.

Each type of property must be valued separately:

  • Ranch or Farm
  • Farm Equipment
  • Livestock
  • Growing or Harvested Crops

McCall’s has the experience and knowledge to value each property properly, and includethem on the detailed assessment.

Estate Value and Creditors

Properties are a major part of the estate’s total value, so the appraisal can determine if there’s enough value to cover outstanding creditors or whether there is anything to bestow onto the beneficiaries.

With a proper estate assessment, it is easier to plan the estate.

McCall's Four Must-Have Qualities

McCall Appraisal Co. has the qualities you need for your estate planning appraisal:

  • We are reputable. We have had more than 20 years appraising properties, and our previous clients include companies such as BB&T, TD Bank, and Fifth Third Bank
  • We are independent
  • We are accredited and we abide by a code of ethics and the Uniform Standards of Professional Appraisal Practice (USPAP)
  • We are experienced in estate planning or “date of death” (DOD) appraisals

McCall Appraisal Co. follows the clearly defined standards the IRS has determined must be met for an appraisal.

Call Us Today for Your Estate Planning Needs!

When you need expert advice for an estate appraisal, especially during the estate planning process, contact McCall Appraisal Co. For over 20 years, our team has assisted investors, buyers, and sellers in countless real estate transactions throughout The Villages and Marion County. We understand the real estate market.

McCall Appraisal Co. prides itself on accuracy, detail, and timeliness. That’s why every commercial real estate appraisal, property valuation, and commercial appraisal review is handled with unparalleled meticulousness and transparency.