Estate Appraisal for "relative"

[Fernando]

Last month I needed my peer advice regarding whether I should do an estate appraisal.
My sister in law parent passed away and needed an appraisal.
I meet her parent several times and I have never seen the property.
I could do an objective appraisal but wasn't sure if that was allowed especially by IRS.
So I decline the assignment. Need my peers to say I made right decision.

 

[Surf Cat]

This is certainly Proof of Life! Fernando, it really is you!

 

[Fernando]

This is certainly Proof of Life! Fernando, it really is you!

That's not the reaffirmation I was looking for. I didn't even go to the funeral.

 

[George Hatch]

You made the safest possible choice. Nobody can hassle you for it.



If you performed the assignment and disclosed the relationship that might make an outside reader feel a certain way.

If you performed the assignment and didn't disclose the relationship but it came up at a later date then that might make an outside reader feel a certain way, too.

 

[sputnam]

Last month I needed my peer advice regarding whether I should do an estate appraisal.
My sister in law parent passed away and needed an appraisal.
I meet her parent several times and I have never seen the property.
I could do an objective appraisal but wasn't sure if that was allowed especially by IRS.
So I decline the assignment. Need my peers to say I made right decision.

It would be incredibly stupid to perform an appraisal for a relative.

 

[George Hatch]

Starting with the possibility of the relative getting the idea that this is the most favorable appraisal they can get. That's one way a rumor can get started and passed around.

We had a relative pass recently. They left a property behind to their heirs. I didn't say one word to anyone (other than my wife) about what I thought the property was worth, and I wasn't specific about the value when we did discuss the situation.

They're going to need a date of death value. I have a couple of local referrals for them. That's the extent of it for me.