Based near Fullerton, Collins and Associates provides Date of Death Valuation for Real Estate and Property Tax Appraisals. When calculating the date of death valuation for federal estate tax purposes, there are two different values that can be used: the date of death value and the alternate valuation date value.
Fullerton Date of Death Valuation for Real Estate
The date of the death valuation is the fair market value of the assets valued on the decedent’s actual date of death, including:
- Bank, investment and retirement accounts
- Personal effects, business interests and real estate
For publicly traded stocks, he average of the high and low prices on the date of death multiplied by the number of shares the decedent owned is used. If the death occurs on a day when the stock market is closed, then the average prices for the stock on the trading days immediately before and after the date of death are used.
For personal effects, business interests and real estate, the appraised fair market value on the date of death is used.
Fullerton Alternate Valuation Date
The alternate valuation date value is the fair market value of the all of assets included in the decedent’s gross estate six months after the date of death. Under the Internal Revenue Code, the Personal Representative is allowed to choose whether to use the date of death values or the alternate valuation date values.
Why would the Personal Representative choose the alternate valuation date values instead of the date of death values? Because if one or more of the estate assets have lost a significant amount of value during the six months after death, then the estate tax bill can be reduced. If the alternate valuation date values are used, however, then all of the assets must be revalued, not just ones that have gone down in value.
Fullerton Property Tax Appraisal
Collins and Associates provides dependable and accurate appraisals in Fullerton, Orange County, Southern California and beyond. Principal David R. Collins is a licensed Certified General Appraiser (G.A.A., S.C.R.E.A.) with over 40 years of experience. We are an appraiser of commercial, industrial, land, income residential, and residential properties, providing the type of reliable values that banks and major lending institutions require for loans.
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Collins and Associates
Contact Person: Dave Collins
Fullerton Date of Death Valuation for Real Estate, Property Tax Appraisal