An appraisal helps protect your asset in these situations:
Insurance coverage
Pre- and post-nuptial agreements
Equitable distribution
Sale (disposition)
Charitable donations
Estate planning
Damage / loss claims
How can I avoid risk?
An appraisal gives you the clarity to make the right decisions and protect your asset. Knowledge really is power. Here’s why:
Neutrality: An appraiser has no stake in the value of your asset. This is a key tenet of our professional standards; fees have no relationship to any transaction or outcome. You can be confident that the value is clear and independent from the interest of any involved party. When? Always important but especially for disposition and pre- and post-nuptial agreements.
Compliance: Trusted appraisers comply with a set of industry-wide standards known as USPAP (the Uniform Standards of Professional Appraisal Practice). USPAP includes ethical and quality control directives that uphold accuracy, fairness and diligence. Also, the IRS monitors, with increasing vigilance, the accuracy of art valuations. The IRS requires appraisal reports to be attached to certain tax forms. Qualified appraisers know how to comply with USPAP and IRS rules. When? Always important but especially for charitable contributions, equitable distribution and estate planning.
Comprehensive reports: You choose the level of detail in your appraisal report, but all appraisal reports are thorough, annotated and illustrated. A qualified appraiser makes sure you have all the market and historical data you need. When? Always important but especially for insurance scheduling and loss/damage claims.
