Professional objective assessments that your family, your lawyer, and your tax advisor can rely upon. Our team has over 40 years combined experience in identifying value and authoring appraisals always to the latest Uniform Standards of Professional Appraisal Practices (USPAP).

A Personal Property Estate Appraisal serves several purposes, all related to determining the value of personal belongings or assets within an estate or collection. Some common reasons for engaging an appraiser are:

• Estate Settlement: When an individual passes away, their personal property needs to be valued as part of the estate settlement process. This valuation helps determine the overall value of the estate for inheritance, tax, and distribution purposes.

• Equitable Distribution: If there are multiple beneficiaries or heirs to an estate, knowing the value of personal property ensures fair distribution. This is particularly important if there are sentimental or high-value items among the belongings.

• Planning Purposes: Estate appraisals can also be useful for estate planning while the owner is still alive. Knowing the value of personal property can inform decisions regarding gifts, trusts, or other arrangements to be made during the owner's lifetime.

• Taxation Purposes: In many jurisdictions, estate taxes or inheritance taxes may apply based on the total value of the estate. Accurate appraisals of personal property help in calculating these taxes correctly.

• Insurance Coverage: Estate appraisals can also help determine the appropriate level of insurance coverage for personal property. This ensures that in the event of damage, loss, or theft, the beneficiaries or heirs are adequately compensated.

Overall, a personal property estate appraisal provides an objective assessment of the value of personal belongings within an estate, which is essential for various financial, legal, and distribution purposes.

Alex Fonarow
Owner, Appraiser, & Auctioneer
Areas of Specialty: Fine Arts, Jewelry, & General Household Contents

To get more information about our Appraisal Services, or to schedule an Appraisal, fill out the form below or call (475) 500-7108