An estate appraisal is a certified assessment of a property’s fair market value, prepared for the purposes of estate settlement, CRA tax filing, probate fee calculation, or distribution among beneficiaries. It is prepared by a designated appraiser under CUSPAP standards and provides a defensible opinion of value.

An estate appraisal is typically needed when filing the deceased’s T1 terminal return (to calculate capital gains), when applying for a Certificate of Appointment of Estate Trustee (to calculate estate administration tax), or when beneficiaries need an independent valuation to divide the estate fairly.

A date-of-death appraisal is a retrospective valuation that determines what the property was worth on the specific date the owner passed away. This is different from a current market value appraisal. The appraiser researches historical comparable sales and market conditions as of that date to arrive at an accurate fair market value.

[ARYN TO PROVIDE PRICING — leave this as placeholder text for now]

Standard turnaround is 5–7 business days from the property inspection. Retrospective valuations requiring extensive historical research may take slightly longer. Rush delivery is available for urgent filing deadlines — contact us to discuss your timeline.

Helpful documents include the property deed or title, the date of death, any recent property tax assessments, details of renovations or improvements, previous appraisal reports, and any legal documents related to the estate. The more information you can provide, the more accurate the valuation will be.

Generally, no. CRA and Ontario courts require that appraisals reflect the fair market value at the relevant date — typically the date of death. An appraisal completed for another purpose or at a different date will not meet these requirements. A new, purpose-specific appraisal is recommended.

A property tax assessment (from MPAC in Ontario) is a mass-produced estimate used to calculate property taxes. It is not a precise opinion of fair market value and carries significantly less weight with CRA or the courts compared to a certified appraisal. MPAC assessments can differ significantly from actual market value — which is why executors, lawyers, and accountants rely on independent certified appraisals for estate settlement.

Yes. Each property in the estate requires its own appraisal. If the estate includes multiple residential properties (for example, a home and a cottage), we can prepare appraisals for all of them and coordinate the process for efficiency.