An appraisal for the purposes of equitable distribution helps clients understand the value of property so it can be divided fairly. It is commonly used for the division of an estate among heirs and family members.
Estate Planning & Tax
An appraisal during the estate planning process guides clients in effectively understanding the value of their personal property. This information gives guidance in the preparation of wills and trusts and other estate planning tools.
Appraisals are required in certain Federal Tax situations. Some charitable donations and inherited estates that exceed certain values are two examples.
Insurance Claims & Valuations
Insurance claims appraisals are assessments conducted to determine the value of damaged or lost property for the purpose of filing a claim.
Valuation appraisals serve various purposes such as: decision making, buying or selling, financial reporting or legal matters, and the amount of insurance to purchase.
Just want to know?
Sometimes there is simply curiosity regarding the value of that inherited piece, that thrift shop find or that interesting piece of furniture. These appraisals can often be quick and given verbally.
Walk-Through
A walk through is a service that helps a client decide what objects might merit an appraisal or could be sold, donated or kept.
Here are some ways in which Lesley has helped her clients.
Hidden Gem
Two sisters needed help dividing the contents of their mother's display cabinet filled with modern cut glass.
The real "find" in the back corner of the cabinet, however, was a Rookwood bowl, hand painted, depicting a Native American. It was signed with the initials for Sadie Markland, an important Rookwood artist, and dated 1894. The Rookwood piece was worth more than any individual piece of crystal in the case.
Unexpected Fortune
A man called and said he thought maybe the painting that his mother had given him long ago for his wedding might be worth something and perhaps he should insure it. His mother had been given the painting by a much older distant relative. It was a large oil by a Taos School artist and appraised in the high five figures.
Japanese Treasures Unearthed
An out of state family was moving their mother to assisted living and wanted to sell the house quickly. They were going to offer it furnished. Much of the furniture and many décor items were Japanese pieces the parents had purchased when living in Japan. After the appraisal the family decided to remove those pieces from the sale.
From Dislike to Relief
A woman had been given a sculpture by her father from the South Sea Islands and told it was very valuable. She did not like the piece and didn't want to keep it. It turned out to be a piece of decorative tourist art and she was relieved to know she could get rid of it.
Remote Appraisal Success
A man's deceased wife had been an avid collector of porcelain and fine dinnerware. He wanted to sell the collections but had no idea of the value. By taking excellent pictures and giving good descriptions, I was able to work remotely with him to provide a detailed appraisal.
Estate Treasure Hunt
The mother of a family passed away in a nursing facility. The family home was part of a very large estate and had not been lived in for some time. The entire contents of the house, furniture, silver, art, clothing and more had to be appraised for IRS estate tax purposes. The appraisal contained more than 400 individual items.