Updated: Dec 23, 2022
Facing an important issue that requires the assistance of an appraiser, from filing estate taxes to determining the worth of unusual items for insurance replacement, it has always paid to trust only those appraisers with advanced appraisal credentials and USPAP compliance.
A recent Ninth Circuit Court Ruling (Estate of Kollsman vs. Commissioner) establishes that appraisals by unqualified sources, in this case an auction house that provided no supporting evidence for their valuations of art in the estate, are not legally viable: https://bit.ly/2Yqj3tK
"The IRS retained the services of a personal property appraiser, who met the qualifications established by the Appraiser Qualifications Board and completed an appraisal that was compliant with USPAP."
Protect yourself and your family with appraisals only by qualified, credentialed appraisers with USPAP compliance. Explore the rolls of the ISA, AAA, and ASA for members that can serve your specific need. Questions? I am happy to help; call Brooke at (503) 422-3481.