Common Mistakes in Estate Appraisals (and How to Avoid Them) (Part 3- Fina)

Even with the best intentions, there are a few common missteps that can cause unnecessary delays, confusion, or even extra tax costs during the estate settlement process. The good news is that most of these are easy to avoid once you know what to look out for.

One of the biggest mistakes is not getting an appraisal at all or relying on a tax assessment or online estimate instead. These sources rarely reflect true market value and usually won’t hold up for IRS or legal purposes. A certified appraisal provides the documentation needed to support the estate’s filings and protect heirs from future disputes or audits.

Another common oversight is using the wrong effective date. For estate purposes, the value typically needs to reflect the date of death, not the date the appraisal is completed. This is called a retrospective appraisal and can have a significant impact on capital gains calculations later.

At Accurate Appraisals of North Carolina, Inc., we often see confusion and apprehension during those initial calls and that’s completely understandable. Estate appraisals can feel unfamiliar, especially when emotions are still fresh and there are multiple people involved. We take the time to explain not only the process upfront but also walk clients through the entire report once it’s complete, so they fully understand how the value was determined. It’s also important to choose an appraiser experienced with retrospective assignments and knowledgeable about local market nuances, since these factors can make a significant difference in both accuracy and peace of mind.

Taking the time to get these details right ensures the process goes smoothly, minimizes stress, and helps protect the estate’s financial integrity. An accurate, well-documented appraisal is one of the most valuable tools you can have during this important time.

Thank you for following along with our “Understanding Estate Settlement Appraisals” series. If you have questions or need guidance on your own estate appraisal, we’re here to help with professionalism, transparency, and compassion every step of the way.