Splieth fine Art, LLC

Art Appraisals & Advisory

Email: info@spliethappraisal.com

 

Appraisal Services

 

Donation Appraisals are required by the IRS (Internal Revenue Service) when a donation is worth more than $5000. IRS publication 561 describes the charitable donation process. These appraisals require extensive write-ups including sales information and complex descriptions. Changing legislations and strict IRS procedures make it essential that donors seek the assistance of a qualified appraiser.

 

 

 

 

 

Donation Appraisals

In an effort to insure an equitable handling of the economic factors surrounding a divorce, the courts can make a monetary award to the disadvantaged spouse based on the determined value of all marital property. Such an award is often based on the professional testimony of a qualified appraiser. Additionally, in other cases when valuable property is to be divided, an objective appraiser’s services are necessary in assigning values on which the division will be based.

 

 

Equitable Distribution Appraisals

Estate appraisals are required when an artist or an art collector dies and the estate must be given a cost basis for federal tax purposes. Federal regulations require that, if a federal estate tax return must be filed, appraisals meeting strict criteria be performed by a qualified appraiser. This appraisal also becomes useful when the estate must be divided equally among heirs or when donations from the estate to charitable organizations are to be made.

 

 

 

 

Estate Appraisals

Everyone needs some kind of household insurance for day-to-day protection, and if you move you will need additional coverage while your property is in transit. A homeowner’s insurance policy provides for payment if you lose items of personal property through fire or theft; however, there are category limits as to how much you will be paid unless you have your valuables specifically listed and their values confirmed by means of a bona fide appraisal prior to loss. In the event of loss, proof of ownership as well as of claimed value must be provided by the owner. Insurance appraisals require  to be updated at least every two years.

 

 

Insurance Appraisals