SERVICES

Estate Planning Appraisal

Deemed Disposition

Upon a person’s death, the Canada Revenue Agency (CRA) treats all owned property as if it had been sold immediately before the time of death—this is known as a “deemed disposition.” The beneficiaries who inherit these assets are considered to have received them at their deemed proceeds of disposition.

Because this process can create tax implications, the CRA may require a professional real estate appraisal to determine the fair market value of the property as of the date of death. This ensures that any capital gains or other tax obligations are calculated accurately.

Probate

Probate is the legal process of confirming that a will is valid under British Columbia law. Whether a will must go through probate depends on the financial institutions or agencies holding the estate’s assets—many require proof of probate before releasing or transferring funds or property.

In estates that include real property, a real estate appraiser may be engaged to provide an accurate valuation. This is especially important when properties are being divided among beneficiaries or when one heir intends to buy out another’s share. A professional appraisal ensures transparency and fairness in the distribution of assets.

Net Worth Estimates

For individuals, families, or corporations with multiple real estate holdings—such as primary residences, rental properties, vacation homes, Airbnb units, apartment buildings, or commercial strata—it’s often necessary for accountants to have an accurate picture of current market values and overall net worth.

Hiring a professional appraiser to determine the market value as of a specific date provides the most precise and defensible figure. Relying on outdated sale prices, municipal assessments, or realtor opinions can be less reliable and may not be accepted by the CRA for formal financial or tax purposes.