Form 706 Estate Tax Appraisal FAQ

Form 706 is the United States Estate (and Generation-Skipping Transfer) Tax Return. When an estate's gross value exceeds the filing threshold, the tangible personal property within it must be valued at its fair market value as of the date of death. An estate tax appraisal documents those values in a report prepared to support the filing.

The IRS defines fair market value as the price at which property would change hands between a willing buyer and a willing seller, neither under compulsion, both having reasonable knowledge of the relevant facts. Our reports develop values on this basis, supported by market research.

An executor may, under certain conditions, elect to value estate property as of a date six months after the date of death rather than the date of death itself. We can prepare valuations on either basis, depending on what the estate and its advisors determine is appropriate.

Timelines depend on the scope of the estate and the volume of property. After the intake call we provide an estimated turnaround, and we work with your filing deadlines in mind. Rush engagements may be available for time-sensitive matters.

Yes. We routinely coordinate with estate attorneys, CPAs, and fiduciaries, and our reports are organized to integrate with the broader estate administration and tax filing process.

We are based in Lakeland, Florida and travel throughout the United States. See our areas we serve for the communities we work in most often, and contact us about assignments elsewhere.