Equipment appraisals for estate, probate and divorce.
An estate or divorce appraisal from Lukes & Lukes is an independent, USPAP-compliant opinion of Fair Market Value as of a specific effective date. The date is documented, the methodology is written down, and the file is built to withstand IRS, audit and legal review.
Which value applies
Fair Market Value, fixed to a date that matters.
Estate, probate and divorce work runs on one premise: Fair Market Value (FMV), the price a willing buyer and a willing seller would agree on, with neither under compulsion and both reasonably informed. FMV is the standard the IRS applies to estate and gift returns, and the standard most family courts apply when machinery and equipment are part of the marital estate.
What sets these matters apart is the effective date. FMV is measured as of a single fixed point: the date of death, the date a petition is filed, or the date of separation. Equipment values move, so the report ties the analysis to that date, documents it precisely, and shows the market evidence that supports it. We determine the correct premise and date with you at the outset, then build the file around them.
- Fair Market Value (FMV): the governing premise for estate, gift, probate and equitable-distribution matters
- Effective date: date of death, date of filing, or date of separation, documented and held constant through the analysis
- Retrospective valuation: a value as of a past date, supported by the market evidence as it existed then
- Itemized basis: each asset valued on its own, so an executor, a tax advisor or a court can trace every figure
- Independent and certified: a NEBB-certified Machinery & Equipment Appraiser (CMEA), with senior review before the file leaves
Related work
Where these files lead.
Estate and divorce matters touch business sales, contested valuations and equipment across every industry. Start with the situation, and we map it to the right service and the right specialty.
Who orders it
The people accountable for the number.
Estate and family-law attorneys order an appraisal to support a filing, a settlement or a position at trial. Executors and administrators order one to inventory and value the assets of an estate. Tax advisors order one to support an estate or gift return. Families and owners order one to divide property fairly and to know what they hold. Each of them needs a value that an examiner, an opposing expert or a judge cannot easily dislodge.
What you get
One file. Every value, fully supported.
You receive a complete report, not a printout: a written narrative of scope and methodology, an itemized appendix valuing each asset, and photographs from inspection. Independent and certified, with senior review before it leaves.
- Cost, market and income approaches applied by a certified appraiser, not a database
- Itemized appendix, narrative and photographs in every file
- The effective date documented and held constant through the analysis
- Lender-fluent and review-tested: Jesse Lukes came up inside the bank at BMO, originating loans and reviewing collateral, so the file reads the way a reviewer reads it
Common questions
Answers, up front.
How is equipment valued in an estate or divorce?
At Fair Market Value (FMV) as of a specific effective date. A certified appraiser applies the cost, market and income approaches under USPAP, values each asset on its own, and ties the analysis to the date the matter requires. FMV is the price a willing buyer and a willing seller would agree on, with neither compelled to act and both reasonably informed.
Why does the effective date matter so much?
Because equipment values change over time, and the law fixes the value to one date. Estate matters use the date of death, divorce matters use the date of filing or separation, and the report documents that date precisely. We value the assets as of that point and support the figures with the market evidence as it existed then, which keeps the appraisal aligned with the return or the case.
Will the IRS and the courts accept the appraisal?
That is what the file is built for. Reports are USPAP-compliant, prepared by a NEBB-certified Machinery & Equipment Appraiser (CMEA), and built to withstand IRS, audit and legal review. The narrative states the scope, premise and effective date, the appendix itemizes every asset, and senior review checks the work before it leaves.
What happens if the value is contested?
The same appraiser who prepared the file can support it through the dispute. Because the report documents its premise, effective date and methodology in writing, it stands up to cross-examination and to an opposing expert. When a matter moves to deposition or trial, our litigation and expert witness service carries the value forward with testimony and rebuttal.
Can you value equipment as of a past date?
Yes. Retrospective valuation is routine in estate and divorce work, where the effective date is often months or years before the inspection. We value the assets as of that prior date and support the conclusion with the market data that applied at the time, not today's market.