 |
Settling an Estate can be an overwhelming job. Whether you are an heir or an assigned executor, you have been entrusted to carry out the wishes of the deceased. This is a task which carries much responsibility and fairness. Getting the job done accurately, swiftly and with sensitivity can be accomplished with the help of a Personal Property Appraiser. You can count on us to act quickly, fairly and compassionately.
Attorneys, Accountants and Bank Trustees rely on our values when Estates, Divorces, Bankruptcies and other disputes require our appraisal work. We understand the needs of various parties involved. We work independently with a common goal of establishing a fair value on each item for all concerned. We provide Appraisal Reports that meet the requirements of the courts and various agencies.
Settling an Estate usually requires an Appraisal to establish Fair Market Value (FMV) for the Personal Property belonging to the Estate. Often, the date of death differs from the date the appraisal is requested. We are familiar with the procedures and requirements necessary to perform a retrospective appraisal report with the effective date and FMV for the date of death. The ethics provision with the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
All too often, people do not fully appreciate the need and benefit of having a detailed Estate Appraisal Report. The Appraisal Report can help substantiate the values used in
legal documents that are filed with the courts and revenue authorities.
Opinions of value conclusions used in documents filed with the revenue authorities should be supported by a detailed explanation as to how the values were arrived at. This is included by the Appraiser and documented in your Appraisal Report. Such an Appraisal Report will certainly demonstrate to the authorities that the value conclusions used are well founded and substantiated.
The Professional Appraisal Report in hand gives the executor of the Estate solid facts and figures to work with in meeting IRS and State Agency requirements. It helps the executor in their job of Equitable Distribution of Personal Property amongst family members and heirs; and assures peace of mind to everyone concerned. We will be their to stand with you in the event the Appraisal Report should be challenged.
|
The pictures taken for Estate Appraisals are numerically "keyed" to the personal property item descriptions in the Report for easy reference.
|
The photographs of the items can be placed between one per page up to 16 items per page depending upon your needs and request.
|
EQUITABLE DISTRIBUTION for ESTATES
Equitable distribution appraisals used for Estate Purposes require that accurate values be assigned to the individual items belonging to the Estate to ensure the fair division of property. Appraisers typically use what is called: "the self-contained appraisal report" for this function. Since, unfortunately, on occassion, this type of situation ends up in court, a self-contained appraisal is the format of choice. It includes all or most of the information that is usually needed for this type of situation.
The laws that govern the type of value in division of property vary from state to state. It is important for the Appraiser to know the appropriate value level to assign to the personal property items. Some of the types of value are: Net value, actual cash value, fair market value, or value in use. The Appraiser needs to confer with the Client and or their Attorney to determine which value level should be used.
|
I will be most happy to discuss your special Appraisal needs and answer your questions.
Feel free to call me at:
530.244.2100
or E-MAIL me using the link below.
Please E-MAIL ME for more information
For Estate Appraisal work, I will give you an on-site evaluation and written proposal at no cost to you if you are in Shasta County or at a minimal cost (to cover my expenses) if you are out of the County. For out of area clients, I may be able to give you a proposal at no cost by phone conversation, and information you could email or fax to me. We can talk about the particulars when you call.
|
|
|