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Updated almost 2 years ago,
Appraisal / Appraiser question about Value on Death appraisal.
My mother just passed and we have all her real estate in a revocable trust. I believe we need to have all her properties appraised to determine our new stepped up basis. My question is:
Is the Value on Death appraisal that is used to determine the value of each property at the time of death the same full 15 page appraisal required by mortgage companies or is it the shorter 1 page type appraisal ?
Just trying to figure out if the appraiser needs to go the whole 9 yards like when there is a loan involved.
Thanks