article thumbnail

4 Reasons to Get an Estate Appraisal – Ray from ValuePros

ValuePros Appraisal Services

Whether it’s a modest household or a high-value estate with art, jewelry, and antiques, these are the four main reasons families choose to get an estate appraisal. Estate Tax Return or Probate Requirement In some cases, an appraisal is not just helpful, it’s required.

article thumbnail

The Rise of Vintage Luxury

Art Peritus

As an avid collector and wearer of vintage couture, I’ve personally experienced firsthand the magnetism of these timeless treasures—and as an appraiser, I’ve seen how important it is to accurately understand their value for estate tax, insurance coverage, and equitable distribution.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How To Determine If You Need An Art Appraisal

Art Appraisal Resources

Value matters and an art appraisal completed by a qualified art appraiser can save you substantial money by not selling too low, insuring too low, or paying too much in estate tax or equitable distribution. During probate, an appraisal comprehensively evaluates the artwork's worth, simplifying the process.

article thumbnail

Understanding the Different Levels of Value: It’s Worth What Where and When?

Artifactual History Appraisal

Fair Market Value is used in all appraisal reports for United States government federal functions such as non-cash charitable contributions for income tax deductions and estate tax. Fair Market Value is also frequently encountered in equitable distribution and family distribution appraisal reports.

article thumbnail

Why You Need an Appraisal

Penrose Appraisals

Estate tax liability. State and federal taxes are a complicated subject and you should always be guided by your accountant or tax advisor. But in determining the tax owed, an appraisal may be required in order to value all of the belongings of the estate. For example, in Pennsylvania, the tax is 4.5%

article thumbnail

The Importance of Provenance in Art Appraisal

JSK Fine Art Appraisals

Appraisers use provenance to assess the fair market value of artworks, aiding in equitable distribution and estate tax planning. It helps heirs and beneficiaries understand the significance and value of inherited artworks.

article thumbnail

Passing on Your Passion Assets

Art Peritus

In this situation, a collection is likely to fall under the control of an executor who may choose to liquidate the collection altogether to allow for an equitable distribution of assets. Selling a collection at auction in the interests of expediency could very well minimize the exit value of many objects.