When do you need an appraiser to value an estate?
It pays to know the value of what you own or inherit — whether you need to purchase insurance, divide up your assets, value an estate or determine the worth of charitable tax deductions. And in many cases, an appraisal is required — to obtain insurance or to write off taxes on donated items that exceed a certain amount, for example.
Can a real estate appraiser evaluate inherited jewelry?
Pretty much anyone can claim to be a jewelry appraiser, whether they own a jewelry store or not. There are no federal or state licensing requirements the way there are for real estate appraisers. 1 So it’s primarily on you to determine whether an appraiser is equipped to evaluate your inherited items.
What should be included in a property appraisal?
A competent appraisal, according to the American Society of Appraisers, should: Clearly state the kind of value being determined, such as fair market value (used for tax purposes), the replacement value ( for insurance coverage ), or liquidation value (for bankruptcy or business dissolution). Describe the property being valued.
Do you pay for an appraiser after death?
“If an appraiser comes in after death, the estate pays the cost and it’s tax deductible,” she says. If someone uses an appraiser while alive, it’s not tax deductible. Most appraisers will charge an hourly fee to appraise items. If they are helping to liquidate an estate, they can charge a flat percentage on the sale.
Who is the best appraiser to buy ivory from?
As The Appraisal Group believes that a knowledgeable client is the best client, we offer you these guidelines on the ivory you have in your collection and the ivory you may want to purchase as a collectible.
It pays to know the value of what you own or inherit — whether you need to purchase insurance, divide up your assets, value an estate or determine the worth of charitable tax deductions. And in many cases, an appraisal is required — to obtain insurance or to write off taxes on donated items that exceed a certain amount, for example.
What is the purpose of a formal appraisal?
Formal, written appraisals: for various purposes including insurance, damage and loss claims, museum donation, estate planning, estate valuations for IRS reporting, liquidation, equitable distribution, and matrimonial settlements.
“If an appraiser comes in after death, the estate pays the cost and it’s tax deductible,” she says. If someone uses an appraiser while alive, it’s not tax deductible. Most appraisers will charge an hourly fee to appraise items. If they are helping to liquidate an estate, they can charge a flat percentage on the sale.
How can you tell if a vase is an antique?
Whether your motivation is sentimental or merely a matter of curiosity, determining if a vase is a genuine antique is necessary to establish value, understand proper care and to get the piece insured.
How is a home with an accessory dwelling appraised?
Learn the critical factors an appraiser is looking for when assessing the value of a home with an accessory dwelling unit. Read this article to understand how your property value changes after the addition of a granny flat and what you can expect.
How can you tell if a vase is a forgery?
Since this technique was used on vases made from 1880 to 1930, you can date your vase to this range if you find an overmark. Because forgeries can be difficult for the untrained eye to distinguish, the most foolproof way to find out if your vase is a genuine antique is to take it to a qualified expert in the antiques field.
What’s the best way to appraise a vase?
Consult with experts at antiques shops, auction houses, and local appraisal firms. Provide photographs showing all angles and markings on the vase. Consider the experts’ collective opinions when making your final appraisal of the vase. Research books on Chinese antiquities to locate details about your vase.
Who is the appraiser for a Japanese Vase?
Professional appraiser Helaine Fendelman identifies and evaluates your collectibles and antiques. I purchased this vase, which is 18 inches tall, about 20 years ago at an estate sale. I can’t read the markings on the base, but would like to know where the vase was made, its history, and its replacement cost.
How do you appraise a Chinese teapot?
These designs graced plates, bowls, teapots, statues and vases. These vases continue to intrigue modern-day collectors. If you want to join their ranks, you must research the proper data to appraise the vase for insurance or resell purposes. Look on the bottom of your Chinese vase for an indication of the piece’s age.
