Trust or Estate Appraisals
Carl Dorr has been accepted as an expert appraisal witness testifying before the Circuit Court in Maryland. His estate/probate inventory supporting schedule reports have been accepted in Maryland counties Register of Wills offices since 1992.
Creating or maintaining a Trust or settling an Estate is an important and sometimes stressful job. Being in charge of a Trust or being an Executor or Personal Representative, you have been entrusted to carry out the wishes of the deceased as swiftly and exactly as possible. You can count on us to act quickly and with sensitivity to the feelings of everyone involved.
Attorneys and Accountants rely on our values when calculating residential real estate (homes) and tangible personal property (general household items or contents/ex: used furniture) inventory schedule market values for trusts, estates and probate. We understand their needs and are used to dealing with all parties involved. We provide professional independent appraisal reports that meet the requirements of the local courts, the Register of Wills office and various agencies.
Settling an estate usually requires an appraisal to establish Fair Market Value for the tangible personal property and real estate property involved. Often, the date of death (DOD) differs from the date the appraisal is requested. We are familiar with the procedures and requirements necessary to perform a retroactive appraisal with an effective date and Fair Market Value estimate matching the date of death. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
All too often, people do not fully appreciate the need to have a detailed date of death real estate appraisal or the independent appraiser completed Register of Wills supporting inventory schedule pages of fair market value for tangible personal property items to support the numbers being used in documents filed with revenue authorities, the IRS, local probate courts or the local Register of Wills office.
Opinions of value used in documents filed with the IRS, local courts or revenue authorities should be supported by a detailed real estate appraisal report as to how the appraiser arrived at his conclusions. Such a report will certainly demonstrate to the authorities that the numbers used are well founded and substantiated.
Having a professional, independent appraisal by a state of Maryland, Virginia and DC licensed and Certified appraiser gives the executor or Personal Representative solid facts and figures to work with in meeting IRS, state agency or court requirements.
call Carl Dorr CRA GRI
Maryland and DC: (301) 564-4987
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