YOU MUST TREAT your fine art, antiques, and/or collectables collection as a valuable financial asset. Creating an estate plan establishes financial security and peace of mind for you and your loved ones. Whether you are a working artist, collector, or have just acquired a few items throughout your life, let MIR Appraisal Services help you with your estate plan.
Our experienced appraisers can work directly with you and your insurance agent, attorney, or trust officer in obtaining the most accurate appraisal for your estate. We will provide you with an itemized appraisal with proper descriptions and values which can serve as an impartial document to help with the equitable distribution of assets among your heirs.
There are many reasons to have an estate planning appraisal: Determining property value, asset management, facilitating the disposition of estate tax reporting requirements, assisting heirs with the distribution of property, helping to determine ones net worth, loan collateral, gift tax purposes, and to help in the creation of a will.
MIR Appraisal Services will:
- Perform a thorough on-site inspection of the estate.
- Research the fair market value of estate items to provide the most up-to-date market information.
- Write an itemized report based on our findings that strictly follows USPAP guidelines. The report can then be used to appropriately divide estate items among its heirs and determine federal, state and/or probate tax liability.
- Offer liquidation service for select items and/or collections.
Probate is a legal process that takes place after someone’s death. It usually involves proving that the deceased’s will is valid, identifying the deceased person’s property and having it appraised, paying outstanding debts and taxes and distributing the property per the will or state law.