Date of Death Appraisals

When a loved one passes away, determining the fair market value of their real estate is a necessary step in settling their estate. At Theodore Harmand Appraisals, we specialize in date of death appraisals to assist attorneys, executors, and beneficiaries with probate, estate tax reporting, and equitable asset distribution.

We have extensive experience appraising properties across Santa Barbara, Montecito, Goleta, Carpinteria, and the Santa Ynez Valley, ensuring that estates are valued accurately and in compliance with legal and tax requirements.

What Is a Date of Death Appraisal?

A date of death appraisal determines the fair market value (FMV) of a property as of the exact date the owner passed away. This valuation is commonly required for:

• Probate Proceedings – Courts require accurate real estate valuations to establish the total value of an estate.

• Estate Tax Filings – The IRS requires FMV calculations for estates that may be subject to federal or state taxes.

• Asset Distribution – When multiple heirs inherit a property, an accurate appraisal ensures a fair division of assets.

The IRS defines fair market value as "the price that property would sell for on the open market" between a willing buyer and seller, both with reasonable knowledge of relevant facts and under no pressure to act. Our appraisals comply with these standards, providing legally defensible reports that simplify the estate administration process.

Why Is a Date of Death Appraisal Important?

An accurate appraisal is critical to ensuring compliance with IRS regulations, reducing disputes among heirs, and fulfilling court requirements.

• Estate Tax Filings

  If an estate’s total value exceeds the federal exemption threshold, an appraisal is required to calculate any potential estate taxes owed. Inaccurate valuations can lead to IRS audits, penalties, or disputes with tax authorities.

• Probate Court Requirements

  Many probate cases require a detailed inventory of assets, including real estate. A professional appraisal ensures compliance with Santa Barbara County probate court requirements and provides a clear, well-documented valuation for the estate.

• Avoiding Family Disputes

  Dividing assets among heirs can be a complex and emotional process. A professional, third-party appraisal removes bias and helps ensure that property values are determined fairly and equitably.

Our Date of Death Appraisal Process

We understand that estate settlement can be a sensitive and time-consuming process. Our goal is to provide accurate, legally compliant appraisals with minimal stress for executors and beneficiaries.

• Retrospective Valuation

  A date of death appraisal determines a property's fair market value as of the decedent’s passing, even if the appraisal is performed months or years later.

• Property Inspection

  We conduct a detailed on-site inspection, evaluating the home’s size, condition, location, and features. If the property is inaccessible, we rely on historical data, previous listings, and tax records to ensure an accurate valuation.

• Comparable Sales & Market Research

  Using real estate sales data from the time of passing, we identify comparable properties in the same neighborhood to establish an accurate market value.

• Comprehensive Appraisal Report

  We provide a detailed, USPAP-compliant appraisal report that meets IRS, court, and legal requirements. Our reports are designed to be clear, thorough, and defensible in the event of an audit or legal dispute.

Understanding Santa Barbara’s Real Estate Market for Estate Valuations

Santa Barbara County’s real estate market is diverse. Our expertise ensures that date of death appraisals are based on accurate local market data.

• Luxury Estates and Coastal Homes – Properties in Montecito, Hope Ranch, and Summerland often have unique architectural features, ocean views, and high market demand, making professional valuation essential.

• Historic Homes – Areas like The Riviera and San Roque contain historic properties where architectural style and preservation status can significantly impact value.

• Suburban and Family Homes – Neighborhoods like Noleta and Rancho Embarcadero offer a range of single-family homes that require analysis of recent local sales and demand trends.

• Rural and Agricultural Properties – Estates in Los Olivos, Solvang, and Ballard often include acreage, vineyards, and equestrian facilities, requiring specialized appraisal expertise.

Contact Us

Contact us for a date of death appraisal anywhere in Santa Barbara County. We’re here to help you ensure a fair, efficient settlement process.