Appraisals for Estate Settlement by Patricia C. Fong, Appraiser

The task 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 departed as promptly and respectfully as possible. You can count on us to act quickly and with as much sensitivity to the feelings of everyone left behind.

Lawyers and accountants count on our understanding when calculating real estate values for estates, divorces, or other disputes requiring a worth being placed on real property. There are required needs for everyone; we realize these needs and are used to to working with all parties involved. Among our staff, we are accustomed to interacting with law offices in creating appraisal reports that meet their necessities.

Usually, settling an estate requires an clear appraisal report to establish fair market value for the home to the satisfaction of the parties involved. We understand that in this time of loss, acquiring an appraisal is the furthest thought from your mind. So, it's possible the time an appraisal is needed will not match the date of death. We are accustomed to the procedures and requirements needed to perform a retroactive appraisal with an effective date and fair market value estimate matching the date of death. The ethical requirements explained within the Uniform Standards of Professional Appraisal Practice (USPAP) attunes our appraisers to confidentiality, assuring the fullest degree of privacy for you and your family.

Many people do not understand that the IRS needs reports filed to support the numbers involved in estate sales.

An accurate report showing the appraiser's opinion of value is necessary to back the methods the appraiser used to come to his conclusions. Such a report will certainly demonstrate to the authorities that the numbers used are accurate and correct.

An executor will be satisfied by an appraisal report by Patricia C. Fong, Appraiser which will show him irrefutable facts and figures to work with any legal agency's requirements. It assures peace of mind to everyone concerned because we will always be there to stand behind the report if it is ever refuted.

One of the most necessary requirements in an appraisal is an appraiser-supported opinion of value in a comprehensive explanation as to how the appraiser came to his conclusion.