Legal Question in Wills and Trusts in California

When is it necessary to have a real estate appraisal for estate planning.

Asked on 10/08/13, 4:59 pm

3 Answers from Attorneys

Victor Waid Law Office of Victor Waid

At the time you plan the estate, so as to give you some idea of the value of the assets your estate/trust will be distributing in the future; however, the date of death of the trustor, you, would be the date, theappraised value of any gifts of assets would be used, to establish the value, to comply with trust provisions and applicable tax rules, if any.

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Answered on 10/08/13, 5:58 pm

William Christian Rodi Pollock

Whenever you need an accurate value. This may be for planning purposes, but often this can be accomplished with estimates or brokerrs opinions. You should have a appraisal to back up your valuation if you are making gifts.

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Answered on 10/08/13, 8:54 pm
Thomas Reid Happe Reid, PC

For purposes of estate planning, an actual appraisal is rarely necessary. You may want to have an asset appraised if you are on the verge of owing estate taxes. Short of that an appraisal is probably not necessary.

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Answered on 10/08/13, 9:30 pm

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