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Lynne Lacey Appraisal Associates will assist you in determining your needs and is available to appraise a single item or full residential or institutional contents. All appraisals and appraisal updates are written in accordance with the Uniform Standards of Professional Appraisal Practice as set forth by the Appraisal Foundation and comply with the report writing standards of the Appraisal Institute America & the IRS. We provide personal property appraisals for the following: Equitable Distribution In the event of an equitable distribution, such as divorce, estate planning, or business dissolution a professional appraisal of the articles to be disseminated is used to decide the basis for division of personal property. Estate An Estate Appraisal establishes the tax liability due to the IRS. We work with a variety of estate executors and attorneys to provide fair market value appraisals that are fully researched with relevant market comparables from auction houses, estate sales or consignment shops. Non-Cash Charitable Contribution The IRS requires formal documentation for a charitable donation of single pieces of fine or decorative art to determine your tax credit for the IRS. A thoroughly researched appraisal report is necessary in order to receive the tax benefit from the IRS. These appraisals are based on fair market values at the time of the donation. Insurance To assure appropriate coverage, an insurance appraisal provides the insurance company with an itemized schedule of individual items. Each article is described, catalogued, photographed and assigned a Retail Replacement Value that is not subject to the limitations of a homeowners policy. Damage / Loss Claim In the event of a loss through fire, flood or other types of damage a professional appraisal is necessary to determine the depreciated value of the loss forming the settlement for an insurance claim. Fees are based on an hourly rate & expenses. Please call or e-mail to request a fee s chedule.
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