The task of settling an estate, while stressful, is very important. It's up to you as an executor to carry out the wishes of the deceased as swiftly and with as much dignity as possible. Generally, settling an estate requires a clear appraisal report to ascertain market value for the property to the satisfaction of the parties involved. When you lose a loved one, ordering an appraisal is the furthest thought from your mind.
Estate appraisals, sometimes called a "date of death" appraisal requires the appraiser to value the subject property retroactively and as of the date of death. Most of the time, people do not fully realize the requirement to have an exhaustive appraisal report produced in support of the figures displayed in tax documents filed with the IRS.
Opinions of value used in documents filed with the IRS and New Hampshire agencies definitely should be supported by a comprehensive report as to how the appraiser acquired his conclusions. This level of documentation will certainly demonstrate your claim that the values within the report are well-founded and accurate.
Additionally, I ensure a substantiated appraisal, which will give an executor solid facts and numbers that will exceed IRS and revenue agency requirements. It assures peace of mind to everyone concerned because I will always be available to discuss the appraisal if it is ever refuted by contesting parties.