When New Yorkers are appointed as executors for their parents’ estates, they may need to get the help of property appraisers. These professionals will determine the worth of different assets, some of which people may initially believe are not worth much but which turn out to have value.
Serving as an executor and trying to determine the value of various assets may be daunting. Appraisers may help their clients with determining what they should sell and what should be disposed of from the estates for which they are serving.
It is important for executors to make certain that the appraisers they choose are qualified to provide expert property appraisals. Several organizations, including some that are listed on the website for the Appraisal Foundation, can provide names of people who are qualified.
Executors may need to get the help of different types of professions in the probate of the will in which they have been named. They may want to speak with attorneys in order to get their recommendations for appraisers and others who may be able to provide the help that is needed. An attorney may also be able to provide advice regarding the various types of court filings that will need to be completed in the probate process. Attorneys might also help with making an inventory of the estate assets, notifying beneficiaries, notifying creditors and filing the required income and estate tax returns. The probate of a will can be a long and complicated process, and thus the assistance of an attorney who has experience with these types of matters may be advisable.