Appraisals in the Settling of an Estate or Managing a Trust

Settling an Estate, or Managing a Trust? The role of a professional, accredited appraisal

An Executor or Executrix has many responsibilities and legal obligations. One is to ensure that the assets of the estate are valued accurately. Appraising assets is a complicated affair. Regardless if the estate is small and the assets are few, or if the estate has vast holdings, the Executor/Executrix has a legal responsibility to ensure that the appraisals are accurate, credible, and reliable.

Appraisals when managing trust or estate - featured

With many estates, the assets must often be appraised as of two different dates: as of the date of death for the estate’s tax return; and as of the date of distribution to ensure that the estate is receiving fair Market Value for its assets.

Estate laws and regulations have changed in recent years in many jurisdictions. There can be a higher level of responsibility on an Executor/Executrix as legislatively mandated. The caution therefore is making a mistake and being personally liable. Alternatively, there could be fines or even jail time.

“Executors can be held personally liable for the decisions they make in the course of estate administration. Although you will be acting in good faith, errors – or disagreements and the perception of errors – can result in the executor and the estate being sued by beneficiaries.” -Scot Dalton, President, ERAssure Executor/Insurance.

“In Ontario, penalties include fines ranging from $1,000 to twice the value of the EAT payable, or incarceration for up to two years, or BOTH. On an estate of $1 million, the maximum fine is $29,000.” -Canadian Institute of Certified Executor Advisors

As an Executor/Executrix, you can protect yourself by engaging the services of a qualified professional appraiser; essentially the valuation liability is transferred.

Are You Managing a Trust?

There are many different types of trusts, and many reasons why an individual or family may want to establish a trust. Most trusts hold assets such as investments or property that increase in value over time.

As a trustee, you may be personally liable for any breach in your duties. This responsibility includes establishing the Market Value of each asset in the trust as of the date it was added to the trust, and as of the date it was sold or at other prescribed dates of pertinent legislation.

When it comes to determining the Market Value of the assets in a trust, are you willing to assume the risks and estimate the values yourself, or possibly use an unqualified appraiser? Alternatively, do you ensure that you meet your legal obligations and engage the services of a qualified professional appraiser?

How Suncorp can help?

At Suncorp Valuations we have decades of experience and a staff of highly qualified appraisers. We routinely provide appraisal services across North America and around the world, from the largest cities to the most remote locations.

We will provide you with appraisal reports that are accurate, credible, and reliable. Our qualifications, and the appraisal procedures and standards that we follow, are recognized by Canadian and US tax authorities.

About Suncorp Valuations

Suncorp Valuations is a leading provider of independent valuation, appraisal, and advisory services. Suncorp’s valuations and appraisals have been relied upon by leading insurance companies, public and private companies, property owners and managers, tax authorities, accounting bodies, courts, municipalities and financial institutions from all over the world.

Our valuation and appraisal staff consist of professionals that are highly accredited in the fields of engineering, real estate and equipment appraisal, business valuation, risk management and loss control. Our multi-disciplinary, multi-regional and multilingual staff take an interactive team approach and have been involved in some of the most complex valuation assignments across the globe.

For questions or comments, or to be added or removed from this distribution list please Contact Us.

How can we help you?

Appraisal Services

  • Insurance Placement
  • Financial Reporting
  • Financing
  • Mergers/Acquisitions
  • Dispute Resolution
  • Corporate Planning
  • Litigation
  • Post Loss Damage Qualification

Advisory Services

  • Loss Control Surveys
  • Implementation and Administration of Property Record Systems
  • Reserve Fund Studies

Senior Software Developer IT-AB-18-02

Senior Software Developer, IT-AB-18-02

Headquartered in Saskatoon, Suncorp Valuations is a dynamic, growth-oriented leader in the global valuation industry. Through offices in Canada and the U.S.A., we offer a full range of valuation, consulting and costing services for land, buildings, machinery and equipment, and for intangible assets such as patents, copyrights and franchises.

Utilizing robust research methodologies, valuation consultants develop reports that provide an opinion of value for assessed property and other assets. Clients utilize reports for a variety of requirements including regulatory compliance, financing, litigation support, mergers and acquisitions, purchase price allocation, insurance placement and claims settlement. Risk Management Services assist clients by identifying and mitigating risks such as the potential for accidents, property damage and theft. For further details please refer to our website at Suncorp provides employee benefits, transit allowance, along with incentive and RRSP programs.

The Role

The position can be located in our Edmonton office and will be reporting to the Director of IT Services. The Senior Software Developer is pivotal to our software development team. As a technical leader, the Senior Software Developer will work with a small team of developers in our Saskatoon office, to enhance, maintain, and develop software that is critical to sustaining and streamlining business operations.

In this role you will participate in all phases of the software development lifecycle including determining requirements, design, development, testing, deployment, maintenance, and support. The Senior Software Developer will work closely with stakeholders to identify requirements and set priorities and deadlines. Along with software development, the incumbent will be responsible for the maintenance and expansion of our reporting systems including client-facing and internal management reports. Supporting the existing and new software post deployment is also a key part of this role.

The Ideal Candidate

Along with the required credentials and impressive technical skills, you are excited about joining a dedicated, passionate team that creates innovative software solutions. You are an accomplished software developer with a deep understanding of developing software in a multi-tiered environment. Although you are able to work independently, you thrive in a team environment and are able to appropriately leverage the knowledge of coworkers to overcome difficult challenges. You enjoy working in an office environment, while collaborating with stakeholders in other offices. You easily manage multiple projects and are naturally focussed on providing internal stakeholders with high quality service. You are forward thinking and resilient when faced with setbacks. On a personal note, you are interested in developing your career through on-going professional development.

The Requirements

  • Post-secondary Bachelor’s Degree in Computer Science or Computer Engineering or an equivalent combination of education and experience.
  • Five to eight years professional software development experience.
  • One year of experience in a related position demonstrating technical leadership.
  • Project management experience in some aspects of the software development lifecycle.
  • Experience designing and developing multi-tiered software applications.
  • Expertise in .NET programming (VB or C#), and TSQL
  • Expertise with ADO.NET in a stateful mode.
  • Experience with Winforms development in Visual Studio
  • Knowledge of MS SQL Server.
  • Experience with source control tools.
  • Knowledge of Crystal Reports or similar report writer.
  • Strong Database skills with understanding of SQL, relational databases, and SQL optimization.
  • Experience in the creation of stored procedures/functions, triggers and other database objects.
  • Understanding of networking protocols and technologies.
  • Proficiency with Windows operating systems and domain environments.
  • This position is restricted to those legally entitled to work in Canada.

The Competencies 

  • A genuine desire to go above and beyond to provide excellence in client service.
  • Proactive, with a desire to drive results and exceed goals.
  • Strong planning, organizational and time management skills.
  • Ability to balance competing priorities between project and non-project work.
  • Strong problem solving skills with ability to analyze and understand data.
  • Detail oriented and organized with robust analytical skills.
  • Self-motivated with solid oral and written communication skills.
  • A strong team player that demonstrates integrity and ownership.
  • Proven experience working in a cross-functional team environment.
  • Capable of writing clear and complete technical and functional specifications.

The Application Process 

Please send an email to address below providing the following information:

In the Subject Line place the competition number, followed by your first and last name.

Subject: IT-AB-18-02 First Name Last Name
Deadline: March 5, 2018 (position may be filled prior to deadline date)

We thank all applicants for their interest in this position, however, only those selected for interviews will be contacted.


Apply Now

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