Estate planning & probate
Why it matters
A value the estate can be settled on.
Probate, estate distribution and trust administration all require a documented market value for real property. An appraisal gives the executor a defensible figure for the estate inventory, and gives beneficiaries a number that came from evidence rather than from a family conversation.
The effective date matters more here than anywhere else. WesTech prepares current values and retrospective values as of a date of death, a date of transfer or the date a trust was established, using the comparable sales that existed at that time, not today’s.
Reports are written for the people who will read them: executors, estate lawyers, accountants and the CRA. Each states the value, the comparables relied on, the adjustments made and the reasoning, signed by the appraiser who inspected the property.
Before the day of the appraisal
What to have ready
Not every item applies to every file. What's needed depends on the scope of the appraisal, and the more you can provide, the more complete the report will be.
The appraisal process
Can you value a property as of a date of death?
Yes. Retrospective appraisals as of a date of death are among the most common reports we prepare, and we use only the sales that had occurred by that date.
Is a BC Assessment value enough for probate?
Usually not. Assessment values are mass-appraised and dated. An appraisal gives a property-specific value with reasoning the CRA and the court can follow.
What if the property has already been sold?
We can still appraise it retrospectively from photographs, listing records and appraisal history, and we will note the extent of the information relied on.
Who should the report be addressed to?
Whoever needs to rely on it: the executor, the estate lawyer or the accountant. Tell us and we address it accordingly.
Related services
Other appraisal services.
Settling an estate?
Send us the property address and the required effective date. We will follow up promptly with a flat-fee quote and our first available appraisal time.