Appraisals are essential in today’s complex and complicated world. The following are some common examples of when an appraisal should be obtained:
- settling estates for taxes, equitable distribution, or liquidation
- documenting donations for charities and IRS verification
- verifying values for scheduling replacement or loss for insurance
- valuing for property settlement due to divorce
- documenting support for trusts with a comprehensive inventory appraisal added to the trust