An appraisal is often needed for succession purposes to determine the fair market value of a loved one’s property.  This is necessary for estate settlement and inheritance purposes.  This is important because the value of the property may be used to determine the distribution of assets to beneficiaries, the calculation of estate taxes, and other legal matters related to the transfer of property ownership.

Timing is important.  The appraisal should reflect the value of the property as of the date your family member passed away.  This is known as the “date of death value”. Any changes that occurred between the date of death and the appraisal date, such as the physical condition of the property, should be kept in mind.

It’s important to choose a professional appraiser with experience and knowledge of appraisals for succession purposes. At Acadiana Appraisals & Consulting, we understand that handling the estate of a loved one can be an emotional process. Our chief appraiser, Lane Duplechin, has many years of experience completing succession appraisals using various data sources and analysis methods to produce detailed and easy-to-understand appraisal reports.

In conclusion, obtaining a succession appraisal can be an important part of settling the estate of a loved one.  Contact us at Acadiana Appraisals & Consulting to learn more about how we can help you with your succession appraisal needs.