[WSBAPT] 6-month-old commercial appraisal for valuation?

[Marcus J. Fry]

Depends on plan and use.

Estate tax return- Yes.  Get an appraisal
No estate tax return- I would just get a realtor market analysis or use sales price if selling because the property is likely a higher value for step up in basis purposes.


Marcus J. Fry
Attorney | Witherspoon * Kelley
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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Morgan Madison
Sent: Friday, August 5, 2022 11:48 AM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] 6-month-old commercial appraisal for valuation?

Listmates:

Decedent passed away owning an LLC interest. The LLC's only asset is commercial real estate that was appraised 6 months before death for a refinance. Will this appraisal suffice to establish the asset value, or must the PR obtain a new appraisal?

Thanks for your input.

Morgan K. Madison
ATTORNEY





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