Written by Russell Harrist
Colorado Certified Residential Appraiser · Certified Probate Expert (CPE) · 25 Years of Experience
Published August 4, 2026
Yes. Retrospective methodology allows an appraiser to establish historical property value even when significant time has passed. Here is how it works and what to expect.
One of the most common questions from personal representatives and heirs who have let time pass is: “Is it too late to get a date of death appraisal?” In the vast majority of cases, the answer is no.
A date of death appraisal can be prepared months or even years after the date of death using retrospective appraisal methodology, an approach that reconstructs market conditions and property value as they existed at the effective date, using data and information that was available at that time.
Retrospective appraisal methodology is a standard USPAP-recognized approach. Every Great Estates date of death appraisal is prepared using retrospective methodology, regardless of when it is ordered.
Several common scenarios lead families or attorneys to need a date of death appraisal long after the fact:
The decedent passed away and the estate was never taken through probate. Heirs are now addressing it years later.
The estate tax return was filed without a formal appraisal, and the IRS is now questioning the stated value.
The inherited property has been sold and the heir’s CPA is now asking for documentation of the stepped-up basis.
An estate tax return was filed using an informal estimate, and a formal appraisal is now needed to support that value.
The heir is preparing to sell and their accountant advises them to document the stepped-up basis before closing.
A corporate trustee is settling a trust that held real property and needs the original date of death value established.
A retrospective appraisal uses data and records that were available as of the effective date. For a property valued as of a past date of death, the appraiser:
The resulting report is a USPAP-compliant appraisal with a retrospective effective date, the same report type used for any date of death assignment, regardless of when it is ordered.
While a retrospective appraisal is almost always achievable, the further from the date of death, the more complex the assignment becomes. Challenges that increase with time include:
These challenges affect complexity and may affect turnaround time, but they do not make the appraisal impossible. The report will still be USPAP-compliant and defensible.
Ordering sooner is always easier than ordering later. If you are currently managing an estate that includes real property, ordering the appraisal early in the process reduces complexity and avoids timeline pressure later.
Colorado’s informal probate track does not impose a strict court-supervised deadline for every administrative step, including the real estate appraisal. This gives personal representatives more flexibility than many other states’ systems.
Federal tax deadlines are separate. If the estate requires a federal estate tax return (Form 706), the filing deadline is generally nine months from the date of death, with a six-month extension available. If you have missed this deadline or are approaching it, contact Russell to discuss the situation; depending on the circumstances, options may still be available.
For heirs who have already sold an inherited property and are now facing a capital gains question, the appraisal can still be prepared retroactively. Discuss the specific situation with your CPA and contact Russell to arrange the assignment.
Contact Russell to discuss your situation before placing an order. Retrospective assignments are handled with the same care and professionalism as any current assignment.