Things to Consider When Getting an Estate Appraised

March 28, 2018 4:53 pm Published by Leave your thoughts

If you have parents or grandparents who recently passed away and left behind a somewhat sizable estate for you to sort through, you might be wondering what the value of that estate is, or at least the value of specific items in the estate. While there might be a lot of sentimental value attached to certain items, the actual financial value might not always match.

Working with professional estate appraisers in Napa County, CA can help you determine the actual value of specific items and the overall estate.

Here are some things to consider when looking at working with an estate appraisal service.

Appraisal services are highly beneficial

It’s helpful to know the value of anything you own or inherit. This can help you determine the value of charitable contributions, whether you need to purchase insurance for certain items (especially collectibles), and how you’ll divide up the assets in the estate beyond what’s listed in the will or trusts left behind by the decedent.

You’ll also get a better sense of what will appreciate in value over time, and if there are any particular items that are irreplaceable.

This is especially beneficial for people who are going through the grieving process, and might not be able to separate the sentimental value from the actual financial value as easily as a third-party professional can. Or, if you are someone planning your estate and want to determine the value of specific items while you’re still alive, you can work with an appraisal service to more fairly divide up your assets in your will or trust.

It’s hard to find relevant information yourself

The internet is a valuable tool for researching a lot of information, but it’s not as easy as many inheritors might expect to go online and find out the value of a specific item. This is especially true for artwork, as every piece is unique, which makes it extremely difficult to appraise if you are not an expert in the field.

But even furniture, collectibles or other potentially valuable items might be difficult to place a value on without an in-depth knowledge of the factors that go into determining the value.

Choosing an appraiser

Considering the importance of getting an accurate valuation of items left behind in an estate, it’s correspondingly important to ensure you’re working with a skilled, capable appraiser. While appraisers are not required to be licensed, you can still check and see if they are members of any of the major appraisal associations that set ethical standards and practices.

You should also ask about the appraiser’s experience. Find out if they have ever had any of their appraisals challenged, and what the results of those challenges were. Ask if they have specific specialties—if you have a unique set of items, it might be difficult to find a general-service appraiser who is capable of taking on your job.

For more information about hiring estate appraisers in Napa County, CA, contact the team at County Appraisals Inc. today.

Categorised in:

This post was written by Writer

Leave a Reply

Your email address will not be published. Required fields are marked *