Real Estate Analysis and Commentary in [CITY]

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Being appointed as the executor or personal representative of an estate is both an honor and an important legal responsibility. Along with carrying out the wishes of the deceased, the executor is responsible for identifying, protecting, and properly accounting for the assets of the estate. If the estate includes residential real estate, obtaining a Date-of-Death Appraisal may become an important part of the estate administration process.


A Date-of-Death Appraisal provides an independent opinion of the property's fair market value as of the owner's date of death, rather than its value today. Because real estate values change over time, the property's historical value may differ significantly from its current market value.

Establishing the property's historical value may assist the executor in preparing an inventory of estate assets, working with attorneys and Accountants (CPAs), maintaining accurate estate records, and documenting the value of the real estate if it is later distributed or sold.

One recommendation I often make to executors is to begin organizing important estate and property documents as early as possible. Keeping items such as the deed, survey, death certificate, Letters Testamentary or Letters of Administration, property tax records, and any information regarding improvements together in a single folder can save time and make it easier for your attorney, CPA, and appraiser to locate the information they may need during the administration of the estate. While every assignment is different and not every document is required, having this information readily available often helps the process move more efficiently.

If you have recently been appointed as an executor or are assisting with the administration of an estate, I would be happy to discuss your appraisal needs, explain the appraisal process, and provide a fee quote based on the property's location, complexity, and the intended use of the appraisal. 

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July 1st, 2026 8:33 AM

When a family member passes away, one of the many responsibilities facing an executor, trustee, or attorney may be determining the value of the decedent's real estate as of the date of death. This type of assignment is known as a Date of Death Appraisal, also referred to as a Retrospective Appraisal.

Unlike a typical appraisal that estimates a property's current market value, a Date of Death Appraisal develops an opinion of the property's fair market value as of a specific historical date. Although the appraisal is completed today, the analysis reflects market conditions that existed on the effective date of the valuation.

When Is a Date of Death Appraisal Needed?

A Date of Death Appraisal may be required for a variety of reasons, including:

  • Estate administration
  • Probate proceedings
  • Trust administration
  • Federal and state estate tax reporting
  • Determining a stepped-up tax basis
  • Distribution of estate assets among beneficiaries
  • Estate planning and financial reporting

Attorneys, accountants, executors, trustees, and personal representatives frequently rely on these appraisals to assist with estate settlement and tax matters.

How Is a Historical Value Determined?

A retrospective appraisal requires specialized research and analysis. The appraiser examines market data that existed on or before the effective date of the appraisal.

Why Experience Matters

Historical appraisals require more than simply reviewing today's market. The appraiser must be able to reconstruct market conditions that existed months or even years earlier using reliable historical data and market analysis.

Selecting an appraiser experienced in retrospective valuations helps ensure the appraisal is credible, well-supported, and appropriate for its intended use.

Serving Western New York

Erbes Appraisals, Inc. provides independent residential Date of Death and Retrospective Appraisals throughout Erie, Niagara, and Orleans Counties.

With more than 24 years of residential appraisal experience, we work with attorneys, accountants, fiduciaries, executors, trustees, and private clients to provide impartial, well-supported valuation services.

If you have questions about a Date of Death Appraisal or would like to request a fee quote, please contact Erbes Appraisals, Inc.

About Erbes Appraisals, Inc.

Erbes Appraisals, Inc. is an independent residential real estate appraisal firm serving Erie, Niagara, and Orleans Counties in Western New York. Donald J. Erbes provides impartial, well-supported valuation services for homeowners, attorneys, fiduciaries, lenders, accountants, and private clients.