Estate and Trust Appraisals: How an Independent Value Protects Executors, Trustees and Families

Settling an estate or a trust is hard enough. The family home makes it harder. It is often the largest asset, it carries the most memories, and everyone seems to have a different idea of what it is worth. An independent appraisal gives the executor, the trustee and every heir the same starting point.

Who relies on an estate or trust appraisal

• Personal representatives and executors who must account for the estate's property and its value
• Trustees who manage and distribute real estate held in a trust
• Heirs and beneficiaries who want to know their share is fair
• Attorneys, certified public accountants and trust officers who advise the family and need a credible value in the file

Five situations where the number matters

1. Documenting the heirs' new tax basis. Inherited property generally takes a tax basis equal to its value on the date of death. A date-of-death appraisal documents that value, which can sharply reduce capital gains tax when the property is later sold. (See our article on step-up in basis appraisals.)

2. Dividing property fairly. When one beneficiary receives the house and others receive cash or investments, the house's value decides whether the split is equal. A guess in either direction shortchanges someone.

3. Buying out a sibling. If one heir wants to keep the home, an appraisal sets a buyout price that both sides can accept, without anyone feeling they were taken advantage of.

4. Selling estate or trust property. An appraisal helps the executor or trustee set a realistic price and shows that the property was not sold for less than it was worth.

5. Estate tax returns. Most estates no longer owe federal estate tax, because the exemption is $15 million per person in 2026. Larger estates that do file still need a well-supported value for every property on the return. Florida has no state estate tax or inheritance tax.

Why independence protects the fiduciary

Florida law requires a trustee of a trust with two or more beneficiaries to act impartially and take each beneficiary's interests into account. Executors carry similar duties to the estate's beneficiaries. When a family member later asks how a value was set, “we looked online” or “the agent told us” is a weak answer. A report from an independent, state-certified appraiser with no stake in the outcome is a strong one.

Today's value, the date-of-death value, or both

Estates and trusts often need more than one value. The date-of-death value documents the heirs' tax basis. A current value may be needed for a distribution, a buyout or a sale months or years later. Steadfast Appraisals can report either one, or both in the same assignment, and can complete retrospective appraisals for deaths that happened years ago.

What to expect

• A conversation first. We confirm whose decision the appraisal supports and which date or dates of value you need.
• An inspection. We inspect the property inside and out. If it has changed since the date of death, we document how it looked then.
• Research and analysis. We study comparable sales and market conditions for each date of value.
• A written report. The report follows the Uniform Standards of Professional Appraisal Practice and explains how the value was reached.
• Follow-up. We are glad to walk the executor, the trustee, the family or their attorney through the report.

Careful work for a difficult time

We know these assignments come during a hard season for families. Steadfast Appraisals provides independent, state-certified estate and trust appraisals throughout Greater Orlando and surrounding areas, in English and Spanish, with the patience and clear explanations that families deserve.

This article is general information, not legal or tax advice. Talk with your estate planning attorney or tax professional about your situation.