Virginia Personal Property Appraisals
Services
"Pam provided wonderful consultation services to me while I was settling my mother’s estate, helping identify and value a silver coffee and tea set, and advising me which items I might auction and which to sell on consignment.”
– RD, Seattle
VALUATION SERVICES
Insurance Coverage and Loss Claims
Assure that your properties are adequately insured in case of damage or loss. Property inventory, photographs, condition statements and Replacement Value are documented.
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Estate Appraisals
Property in an estate must be appraised if the estate includes antiques, fine art and collectibles with a Fair Market Value greater than $10,000; and any single item with a value greater than $3,000 must be appraised (IRS Form 706). Estates valued over $5.34 million are required to pay federal estate tax; depending on the estate jurisdiction, you may also be required to pay state estate tax (Virginia: no estate tax; Maryland and D.C.: taxed on estates over $1 million).
Probate and Distribution of Property
Estate appraisals for estate tax calculation may also be used for probate and distribution of property when specified in the appraisal assignment. Tax-exempt gifts of $13,000 per person/ per year are permitted by law; the donor is required to pay tax on gifts in excess of this amount.
Charitable Contributions
The IRS requires a qualified appraisal for any donated property with a value greater than $5,000 (Publication 561). We determine and document the Fair Market Value of your property on the date of the contribution, so that you may fill out the required tax forms (IRS tax Form 8283) and claim the appropriate tax deduction.
Dissolution of Marriage
Inventory with photographs, condition statements and the Fair Market Values of properties are documented for the fair and equitable division of property.
OTHER SERVICES
Personal Property Inventories
Inventories are an excellent way to catalogue your collections of antiques and decorative arts. We provide a report with photographs, descriptions and any documentation you may have about your property's history or provenance.
Consulting
We can assist you in antique and decorative art acquisition or disposition, making recommendations regarding the appropriate market and market level for your intended transaction.