Estate Settlement Appraisals in Maryland by Park Appraisal Associates, Inc.Settling an estate is an important and sometimes stressful job. As a personal representative, you've been given the authority to carry out the wishes of a loved one as promptly and respectfully as possible. You can count on Park Appraisal Associates, Inc. to respond quickly and with as much sensitivity to the feelings of everyone left behind. Park Appraisal Associates, Inc.'s offers the highest quality, ethical appraisals that clients can rely on.
With current levels of Federal and Maryland estate tax exemptions, taking advantage of "Stepped-up Basis" on the assets of the estate can have significant tax advantages of the beneficiaries of the estate. You may want to familiarize yourself with the Explanation of Stepped-up Basis found at https://www.en.wickipedia.org/wiki/Stepped-up_basis.
Settling an estate commonly requires an appraisal to determine market value for the property affected. We know that when you lose a loved one, ordering an appraisal report is the furthest thought from your mind. Because of this, often there will be times that the effective date of an appraisal report deviates from the time of death. We are knowledgeable about the systems and requirements needed to provide a retrospective appraisal with an effective date and market value estimate matching the exact date your loved one passed away. The ethical obligations listed within the Uniform Standards of Professional Appraisal Practice (USPAP) conforms our appraisers to confidentiality, ensuring the highest degree of privacy for you and your loved ones.
Most people don't realize that the IRS requires reports filed to show the numbers involved in estate sales.
A report provided by Ritchie A. Park, Jr., SRA you will have the peace of mind that the data and analysis presented in the appraisal report will clearly demonstrate to the the beneficiaries and Federal and Maryland agencies a well supported value estimate .