What is the role of independent appraisers in fiduciary actions?

Independent appraisers play a crucial role in fiduciary actions by assessing the values of assets independently. This function is essential for ensuring that all parties involved in a fiduciary relationship have an unbiased and objective evaluation of the asset's worth. Accurate appraisals are vital for various legal processes, such as estate settlements, financial planning, and tax assessments. By providing an independent valuation, appraisers help maintain transparency and fairness in managing assets, which is especially important in situations where there may be potential conflicts of interest.

In contrast, providing legal counsel is not the responsibility of appraisers; that task falls to attorneys. Selling property directly is outside the purview of appraisers, as their focus is on valuation rather than sales. Similarly, managing the estate's financial aspects is a distinct role typically associated with fiduciaries or financial advisors, rather than appraisers who concentrate solely on asset valuation.