Probate Appraisals

Why would you need a probate appraisal in Las Vegas?

Probate & Estate Services

Nevada Probate Court Requirements

In Las Vegas and Henderson, the Nevada probate court oversees probate administration to ensure the equitable distribution of estate assets. Real estate appraisers play an important role in the probate process to certify the fair market value of the real property assets.

The ownership or title is changed from the decedent's name so property can be transferred or sold. The real estate appraiser will ensure property is valued correctly for tax purposes and determine step up value. Probate property is any property that does not convey by "operation of law" like joint tenancy in real property, or by contract as in life insurance payouts.

How Does a Probate Appraisal Differ from a Lending Appraisal?

The definition of market value is different. For estates in probate the fair market value is determined by the appraiser as defined by the IRS.

Probate appraisal reports are completed 'as is' which means that estate appraisals are not subject to any repairs.

Lending real estate appraisal reports completed as current value whereas probate appraisals are typically appraised retrospectively or as of the date of death.

Since a professional appraisal is used to determine the values of a property for a client's estate tax purposes, a probate appraiser must have knowledge of the local market and be able to provide a fair and accurate estimate of the property's value. The appraiser's opinion of value may be challenged by the executor or heirs of the estate, so it is important that the appraiser is from an appraisal company ready to go to a Clark County court if necessary.

Call (702) 920-4500 Request Appraisal

4 Types of Nevada Probate

General Administration

$300,000+

Full probate process with court-appointed personal representative

Summary Administration

$300,000 or less

Shortened estate process with fewer court approvals needed

Set Aside Estate

$100,000 or less

Assets can be distributed by a judge's order

Small Estate Affidavit

$25,000 or less

Beneficiaries may claim through affidavit submission

How to Prepare for the Appraisal

Please don't clean the house, make repairs, or fix anything! Going through your loved one's belongings can be very emotional and we encourage you to concentrate on healing yourself. Our appraisers have experience in properties that have not been maintained or have severe deficiencies. We must assume the condition as of the date of passing in most cases so current repairs are not accounted for anyway. You don't need to be present when we come out—all we need is a key to the front door.

Retrospective Appraisals

Sometimes the property has already been sold to another party, but an appraisal is requested by an accountant or financial planner to define the step up value. Our appraisers can appraise properties retrospectively with effective dates ranging from 3 months ago or 30 years ago.

Typical Probate Appraisal Fees:

$500–$800 Standard • $1,500+ Complex

Complex properties or multiple effective dates start at $1,500