Estate Appraisals and Estate Planning
Why You Need An Estate Appraisal
Quite often, Estate Appraisals are overlooked and misunderstood during the Estate Planning process. An Estate Appraisal, during the planning stages, can provide a benchmark of value of an asset, or collection. So, future appraisals will show either growth or a decline in value. It’s been proven to be a valuable tool so the owners can plan in advance for taxes, or distribution of the estate. It can also provide peace of mind for collectors to know how their treasured objects will be handled.
Settling an estate is a stressful job for anyone who is involved, especially the executor. As the executor, you are responsible for carrying out the final wishes, as promptly and accurately as possible. DB Appraisals Ltd can help by preforming an inventory and giving value to the items in the estate, as needed by probate. We can also determine the value of the property, at the time it is acquired by the beneficiary. This is done for possible capital gains or income tax purposes in the future. This must be completed by a certified, designated Personal Property Appraiser. If this is not completed in a timely fashion, the Courts may reject the estate. Our Appraisers act quickly and with sensitivity to the feelings of everyone involved, not to mention with the highest degree of discretion.
Who Uses Our Estate Appraisals
Lawyers and Accountants rely on our Estate Appraisals when calculating personal property values for estates. Our Legal Estate Appraisal Reports meet the requirements of the Courts, the CRA and other various agencies. We are familiar with the requirements and procedures necessary to complete a Personal Property Estate Appraisal. The Legal Estate Appraisal Report will give you the Fair Market Value, ensuring that you receive the right valuation for the estate for purpose of selling assets or for tax purposes.