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Reasons of valuations for tangible property can include estate and probate purposes, equitable distribution, insurance coverage, charitabledonations, dissolution of marriage, and bankruptcy. As a personal property appraiser, my role encompasses tangible property including fine art, antiques, furniture, and collectibles.
There are numerous reasons to seek a professional appraisal, including planning insurance coverage, charitabledonations, probate of an estate, or simply determining the value of your tangible assets. 1/31/2024 12:00:00 AM Hiring an ISA personal property appraiser provides many benefits.
It is not used for forced sale or bankruptcy situations. CHARITABLEDONATIONS Fair Market Value is also used for non-cash contributions. On the other hand, Market Value takes into account the more specific circumstances of a sale, and is used for the intention of liquidation.
When to Use: Estate planning Divorce settlements IRS-related charitabledonations 3. Liquidation Value Liquidation Value represents the price jewelry would fetch in a forced or distressed sale, such as during bankruptcy proceedings, urgent asset liquidation, or even the processing of forfeited property by law enforcement.
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