Appraisals for Estate Settlement by O'Brien Appraisal Group, LLC
The job of settling an estate, often a source of stress is very important. As an executor you have been entrusted to carry out the wishes of the deceased as quickly and with as much dignity as possible. You can count on us to act quickly and with as much understanding to the feelings of everyone in bereavement.
Part of O'Brien Appraisal Group, LLC's mission statement is to supply top-notch, ethical appraisals that attorneys can depend on. We understand their needs and are familiar with dealing with all parties involved. Among our staff, we are accustomed to interacting with law offices in supplying appraisals that out-strip their demands.
Contact us promptly to discuss your specialized estate appraisal needs and how we can put our business acumen to work for you.
Commonly, settling an estate necessitates an clear appraisal report to ascertain fair market value for the property to the satisfaction of the parties involved. It's understandable that ordering getting an appraisal is the farthest thought from your mind. So, it's possible the date an appraisal report is ordered will not match the date of death. Our professional staff is comfortable with the procedures and requirements necessary to provide a retroactive appraisal with an effective date and fair market value estimate matching the exact date you suffered the loss of your loved one. The ethics provision listed within the Uniform Standards of Professional Appraisal Practice (USPAP) keeps us to confidentiality, certifying the highest degree of privacy for all parties involved.
Most people don't realize that the IRS requires reports filed to support the numbers involved in estate sales.
A comprehensive report showing the appraiser's opinion of value is required to back the methods the appraiser used to come to his conclusions. Such a report will certainly demonstrate to the IRS that the numbers used are well-founded and substantiated.
Having a professional appraisal report from O'Brien Appraisal Group, LLC gives the executor irrefutable facts and figures to work with in meeting IRS and IL state agency requirements. It assures peace of mind to everyone concerned because we are there to stand behind the appraisal if it is ever challenged.
Opinions of value displayed in documents provided to the the IRS and IL state agencies definitely should be supported by an accurate report as to how the appraiser acquired his conclusions.