|
An Appraisal Is Often Recommended For:
Insurance Coverage/Loss - a written appraisal by qualified professionals is often required to insure your valuable possessions. In many situations an appraisal is required by insurance adjustors to satisfy a claim for loss or damage.
Charitable Contributions - the IRS requires that an appraisal be submitted with your tax return for some donations. It is often advised that any charitable contribution of personal property be appraised prior to making the donation so the recipient and donor are aware of the value of the gift.
Private Sale/Liquidation - if you are considering the sale of your antiques, art or valuable personal property, an appraisal is recommended to establish the fair market value prior to placing your property on the market for sale.
Financial and Estate Planning - an appraisal can be an invaluable tool in planning your financial future. A concise valuation of your treasured property may significantly impact your financial position and should be considered for long term planning. A detailed inventory with values can also assist you in distribution or liquidation of your assets.
Wills/Estate Taxes - an appraisal can assist you in planning how your antiques, art and personal property are to be distributed after your passing to ensure your heirs are treated equally and to minimize disputes. An appraisal can also be an important document when filing for estate taxes.
Divorce/Partnerships - we work with clients and attorneys to determine a fair market value for all property in question and submit the appraisal report as a legal document to assist in equitable distribution.
|
