Estate and Date-of-Death Appraisals
Somerset County estates are handled by the Somerset County Surrogate on the first floor of the County Administration Building, 20 Grove Street, Somerville. Office visits are by appointment (Somerset County Surrogate). Executors typically need a date-of-death value for three reasons: to report stepped-up basis to the IRS, to divide property fairly among heirs, and to support a sale or buyout. With Somerset values, the stepped-up basis alone can mean a large capital-gains difference.
Our estate and date-of-death appraisals are retrospective. We value the property as it stood on the date of death, using sales from that period rather than today's market.