Understanding the Importance of Date of Death Appraisals – Hollywood Hills
When a loved one passes away, settling their estate involves more than just honoring their memory—it requires proper financial and legal steps to ensure everything is handled accurately. One of the most important aspects of this process is obtaining a Date of Death (DOD) appraisal, which determines the fair market value of real estate as of the date the decedent passed away. In a prestigious and high-value area like Hollywood Hills, where homes range from mid-century architectural gems to ultra-luxury estates with panoramic views, a certified appraisal is vital for probate court filings, estate tax purposes, and equitable distribution among heirs.
Pacific Home Appraisers provides professional, USPAP-compliant Date of Death appraisals across Hollywood Hills, trusted by attorneys, fiduciaries, CPAs, and families navigating complex estates.
A Date of Death appraisal, also known as a retrospective appraisal, estimates a property's market value based on real estate conditions at the time the owner passed away. Instead of current values, it relies on comparable sales from the relevant historical date.
In Hollywood Hills, where no two properties are exactly alike, and the market is driven by views, architecture, location, and privacy, an accurate DOD appraisal must be handled by a professional with deep knowledge of the local luxury market.
1. IRS and Estate Tax Compliance When the total estate exceeds the federal exemption amount, the IRS requires a certified appraisal for any real property included in Form 706. A DOD appraisal ensures the estate is accurately reported and audit-resistant.
2. Step-Up in Basis for Heirs A DOD appraisal establishes the stepped-up basis, resetting the home’s value to the fair market value at the time of death. This helps minimize capital gains taxes if the heirs sell the property in the future.
3. Equitable Distribution of Assets In estates with multiple heirs, a neutral third-party appraisal ensures the fair and transparent division of real property—especially if one beneficiary keeps the home and others require financial compensation.
4. Probate and Trust Filing Requirements Los Angeles County probate courts require USPAP-compliant appraisals to verify property values for estate inventories and legal documentation. A Date of Death appraisal fulfills this legal requirement.
You’ll need a DOD appraisal if:
You are the executor, trustee, or estate administrator
The estate includes residential or investment real estate in Hollywood Hills
The property is involved in a probate or trust
A CPA or estate attorney needs documentation for tax or legal filings
You are filing IRS Form 706 for estate tax
You need to establish a stepped-up basis for capital gains tax purposes
Even if the property is not being sold, the appraisal provides vital documentation for tax reporting and legal compliance.
Property Evaluation We assess the property's size, location, design, architecture, amenities, lot size, condition, and views. If interior access is unavailable, we use MLS data, public records, photos, and historical documentation to accurately assess the property as of the date of death.
Historical Market Research We analyze comparable sales from the same time period in neighborhoods like Laurel Canyon, The Bird Streets, Mount Olympus, Outpost Estates, and Beachwood Canyon. Every comp is carefully adjusted to reflect the subject property’s features and characteristics.
Sales Comparison Approach By making adjustments for square footage, location, view, upgrades, and condition, we derive a supportable market value for the property as of the specific date in question.
Certified USPAP-Compliant Report Our appraisal reports meet the Uniform Standards of Professional Appraisal Practice and are accepted by probate courts, the IRS, financial institutions, and legal professionals.
In addition to Date of Death appraisals, Pacific Home Appraisers provides:
Divorce Appraisals – Independent valuations for equitable distribution of real estate during divorce
Expert Witness Appraisals – Defensible reports and in-court testimony for valuation disputes
Appraisals for Any Intended Use – Including estate planning, gifting, pre-listing, refinancing, and tax appeals
Every report is tailored to your specific needs, with a focus on detail, clarity, and credibility.
Hollywood Hills is one of the most distinctive and dynamic luxury markets in Southern California. With hillside lots, architectural prestige, and stunning views, appraising real estate in this area requires market fluency, local insight, and years of experience.
With over 5,000 appraisal assignments completed, Pacific Home Appraisers offers:
Standard delivery within five to seven business days
Rush delivery available within forty-eight hours of inspection
Reports accepted by courts, IRS, and legal and financial professionals
Clear, responsive service from start to finish
Can a Date of Death appraisal be done long after the decedent passed away Yes. These retrospective appraisals can be performed months or years later using historical data from the relevant time period.
Is a DOD appraisal needed if we’re not selling the property Yes. Even if the home is being retained, a DOD appraisal is needed to document the stepped-up basis and for estate or probate filing purposes.
Can I use the tax assessor’s value instead of a certified appraisal No. Assessed values are not based on true market value and are not accepted by the IRS or probate courts. A certified appraisal is required.
If you are managing a trust, estate, or probate matter in Hollywood Hills, turn to Pacific Home Appraisers for certified, timely, and professional valuation services that meet all legal and tax requirements.
Call 818-880-1466 Email kiani105@yahoo.com Visit www.pacifichomeappraisers.com