Expert Estate Tax and Planning Appraisals
Personal property appraisals are an important part of estate planning and are crucial for calculating estate taxes as per IRS regulations. They help ensure that the value of a person’s assets is accurately reflected in their estate plan and is distributed fairly among beneficiaries, which makes the probate process smoother.
The primary purpose of an estate tax appraisal is to determine the fair market value (FMV) of assets within an estate. Fair Market Value is essential for calculating the correct amount of estate tax owed to the government.
Appraisals are also vital for estate planning purposes. They help individuals understand the value of their assets, which is crucial for making informed decisions about distributing assets to beneficiaries, minimizing potential tax liabilities, and ensuring a smooth transfer of wealth.
Our team of experts with years of experience in the art and antique market provides accurate and unbiased appraisals in valuing personal property. All our appraisals are USAP-compliant and IRS-accepted.
We arrange for one of our qualified appraisers to take notes, photograph, and gather details.
Research on comparable examples is gathered, considering size, age, and quality. A market analysis is also included.
A fully compliant, signed, printed appraisal report is dispatched along with a digital copy.
Personal property appraisals are essential for determining the value of your tangible possessions. These appraisals play a crucial role in various situations, from insuring your valuables to settling estates and making informed financial decisions.
Appraisals should be conducted as soon as possible after the date of death for estate tax purposes. For estate planning, appraisals can be done periodically to keep track of asset values.
