[WSBAPT] Alternative to Hiring CPA or CVA for Business Appraisal in probate?

[Dalynne Singleton]

Ryan, my clients used this firm for an appraisal of a business in Everett.
He did a great job.  You might reach out and see what the cost of the appraisal may be to compare to the ones you have contacted.  I have no idea if DOR will accept an appraisal done by a lay person v. a CPA.

Braden Gustafson, MAI, WA-1101684
GUSTAFSON & ASSOCIATES
1255 Barkley Blvd, Ste 107
Bellingham, WA 98226
(360) 733-8101
braden at gusappraisers.com<mailto:braden at gusappraisers.com>
www.gustafsonandassociates.com<http://www.gustafsonandassociates.com>


Dalynne Singleton
Dalynne Singleton
Gourley Law Group
Snohomish Escrow/The Exchange Connection
1002 10th Street / PO Box 1091
Snohomish, WA 98291
360.568.5065
360.568.8092  fax
dalynne at glgmail.com<mailto:dalynne at glgmail.com>   Website:  www.glglawgroup.com<http://www.glglawgroup.com/>
Attorney/client meetings will be handled virtually whenever possible.  If you would like to set a telephone conference, zoom, or in person meeting, please call or email one my paralegals Valerie valerie at glgmail.com<mailto:valerie at glgmail.com>, Kelly kelly at glgmail.com<mailto:kelly at glgmail.com>, or Theresa theresa at glgmail.com<mailto:theresa at glgmail.com>.  Attorney Spencer Clower & paralegal, Kristin Jacobs, for Estate litigation (spencer at glgmail.com<mailto:spencer at glgmail.com> and kristin at glgmail.com<mailto:kristin at glgmail.com>).  Carrie Ulrich and Candace Wilkerson, co-counsel in probate (carrie at glgmail.com<mailto:carrie at glgmail.com> and candace at glgmail.com<mailto:candace at glgmail.com> ).

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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Ryan Castle
Sent: Wednesday, February 26, 2025 1:07 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Alternative to Hiring CPA or CVA for Business Appraisal in Probate?

All,

Anyone have any ideas on alternatives to hiring a CPA or CVA to appraise two WA businesses as part of a probate that will be subject to WA estate taxes (but not federal). The appraisal is just for tax purposes. The appraisal fees are enormous and the liquid asset make-up of the estate makes paying $15-20k to value majority shares in two businesses whose beneficiaries are the remaining owners quite difficult. Does anyone have experience that in the event of a WA DOR audit, DOR will not accept business appraisals not performed by a CPA or CVA? What are the consequences if appraisal is performed by businesses' bookkeeper (also IRS enrolled agent) who has informal experience in valuing businesses? Wouldn't DOR just do its own appraisal at that point and collect any difference upon audit?

Thank you in advance for any guidance!

--

Ryan Castle (he/him)
Castle Law Firm, PLLC
Managing Attorney
T: 360-592-3504
1313 E. Maple St., Suite 790
Bellingham, WA 98225
https://ryancastlelawfirm.com/


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