What Would You Need an Appraiser For?
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Estate Valuation: IRS Estate Tax, Gift Tax, Distribution Among Heirs, and Estate Planning
There are many State and Federal laws affecting the processes of estate valuation, and we keep current on these laws in order to produce compliant reports. Heirloom Estates also enjoys working with families in valuing their property in order to plan for later division among heirs, or in helping Estates to accomplish this task. |
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Insurance: Claims & Scheduling:
Our Appraisers provide thorough documentation of your valuable possessions, including photographs, full descriptions, condition, and replacement value. In the event of a loss, we consult with appropriate conservators in order to provide you with the replacement value before and after loss, and subsequent diminution of value. |
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Divorce:
We work with sensitivity and objectivity to help parties with equitable distribution of property in a divorce or business dissolution. Our appraisals are backed by a strong understanding of relevant state laws and definitions of Fair Market Value and Market Crash Value. We work closely with our clients and lawyers to insure a fair and impartial resolution during difficult times. |
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Donation: Charitable Contribution:
This option is often an excellent choice for clients who are downsizing or for an estate liquidating property. We work hard to document and substantiate your IRS donation appraisal and insure that your appraisal conforms with the IRS's exact requirements. We can help to insure the best placement for Fine Art or other valuables with museums or other charitable institutions, making sure that your donation meets your goals for visibility and deaccessioning. Our commitment to staying current with the ever-changing laws relevant to non-cash charitable contribution and our thorough reports help clients to maximize tax write offs while remaining completely IRS compliant. |
Recent articles about when to hire an appraiser:
When is a professional written appraisal needed? From Antiques.about.comblog.antiques.com/category/appraising/: click to see more information
There are times when a written appraisal is required to document the value of an antique or collectible. The most common reason for needing a written appraisal is for insurance purposes whether to purchase the appropriate amount of coverage or to substantiate a claim. Individuals considering investing in a very valuable antique or collectible, or selling a similar item, may want to substantiate the value and have documentation they can present with the piece. Additionally, situations such as the division of property, determining value for a charitable tax deduction, or determining estate taxes can all require a written appraisal.
Appraisals such as these are written based on the assigned use such as determining estate taxes owed, evaluating casualty losses, or preparing to sell an important antique, and each item should be valued according to the purpose of the appraisal. A professionally trained appraiser, like those educated by the International Society of Appraisers (isa-appraisers.org), can guide you in the type of appraisal required. Some services, one being ValueThisNow.com, offer written appraisals as well as estimations of value delivered via email.
How much is your stuff worth? It’s often a good investment to spend the time and money on an appraisal
click Consumer Reports magazine: October 2012
Imagine selling a painting at a yard sale for $10, then learning the buyer later sold it at auction for $137,500. You’d want to kick yourself. Click to read more
There are times when a written appraisal is required to document the value of an antique or collectible. The most common reason for needing a written appraisal is for insurance purposes whether to purchase the appropriate amount of coverage or to substantiate a claim. Individuals considering investing in a very valuable antique or collectible, or selling a similar item, may want to substantiate the value and have documentation they can present with the piece. Additionally, situations such as the division of property, determining value for a charitable tax deduction, or determining estate taxes can all require a written appraisal.
Appraisals such as these are written based on the assigned use such as determining estate taxes owed, evaluating casualty losses, or preparing to sell an important antique, and each item should be valued according to the purpose of the appraisal. A professionally trained appraiser, like those educated by the International Society of Appraisers (isa-appraisers.org), can guide you in the type of appraisal required. Some services, one being ValueThisNow.com, offer written appraisals as well as estimations of value delivered via email.
How much is your stuff worth? It’s often a good investment to spend the time and money on an appraisal
click Consumer Reports magazine: October 2012
Imagine selling a painting at a yard sale for $10, then learning the buyer later sold it at auction for $137,500. You’d want to kick yourself. Click to read more
