Estate
Date-of-Death Appraisals: Planning the Assignment
A date-of-death appraisal addresses the property’s value at a historical date. The report may be prepared later, using evidence the appraiser considers sufficient to support that opinion.
Updated September 10, 2026
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Confirm the required effective date and purpose with the estate’s attorney or tax advisor. Do not assume one report will satisfy every filing or beneficiary’s needs.
Tax reporting and basis are separate questions
The IRS describes Form 706 as an estate-tax return used by the executor. Whether it is required, which schedules apply and what valuation support is needed are questions for the estate’s tax advisor.
Inherited-property basis
The IRS states that inherited-property basis is generally fair market value at death, or an alternate valuation where properly elected; exceptions apply. This can be an adjustment down as well as up. An appraisal supplies valuation evidence, not a determination of your tax treatment.
Gather historical evidence
Preserve dated photographs, property records, renovation invoices and any relevant prior reports. Tell the appraiser about changes after the effective date. Current photos should not be presented as proof that historical condition was identical.
- Confirm the effective date and intended use with your advisor.
- Identify authorized recipients and intended users.
- Explain known changes in condition.
- Agree scope, timing and fees before work begins.
Review before filing
Have the responsible advisor check the report against the filing requirements. A licensed signature does not guarantee IRS or court acceptance, and the report may need clarification or additional documentation.
Questions people ask
Is an online estimate enough?
Ask the recipient or advisor what evidence is required. Do not assume either an online estimate or a privately ordered appraisal automatically satisfies the requirement.
Must the appraiser have visited on the date of death?
Ask the appraiser whether the available historical evidence is sufficient. The required scope depends on the assignment; a past visit is not something the platform can recreate.
Sources
Sources checked September 10, 2026. Confirm the requirements for your specific assignment with your recipient or advisor.
