Estate Services

When a loved one or family member dies with large estate is involved, one of the things you may need to do is file an estate tax return. With great care and sensitivity to our customers during this difficult transition, our honest, professional, qualified personal property appraiser will prepare an estate tax appraisal for the personal property included on Schedule F. In the event that a single item of personal property is valued at more than $3,000 or a collection of similar properties is valued at more than $10,000, a written, signed estate tax appraisal report with the appraiser’s qualifications must be submitted along with Form 706.

Whether it's an estate or a divorce situation, calculating the fair distribution of assets can be a challenge. Division of assets and value assessments are often needed when the property is being split up among parties/heirs. As a third party we communicate what items are worth can help the family divide assets fairly and equally. 

Equitable distribution appraisals determine the fair market value of an item based on comparable sale price, and the outcome of past auctions. Note that laws governing the appropriate value level for division of property vary from state to state. States may require net value, cash value, marketable cash value, fair market value, or value-in-use. 

For potentially litigious situations, formal appraisal reports conducted by Masterpiece Appraisals are accepted in a court of law. Additionally, we provide service as verifiable professional witnesses.

"El Pensador"- The Thinker

Artist: Francisco Goya

After your insurance company forced you to sift through soot and ash, pin point what has just been stolen, or attempt to identify damaged contents, they respond with random, substantial reductions to the value due to depreciation. Creating inventory after a big loss with little to no guidance is an emotionally draining experience. 

While most insurance policies provide replacement costs, some policies limit recovery of personal property contents to the actual cash value. While it may not be difficult to replace an inexpensive item, it can become very difficult, or nearly impossible, to replace an expensive item improperly documented and the policyholder is financially unable to purchase a replacement item. 

An insurance appraisal is a documented assessment of a property’s replacement value by a qualified professional. Insurance companies use appraisals to estimate the amount of damage after a covered loss and the calculate the replacement cost. 

Most insurance companies are now requiring a formal appraisal report for items that are not under normal personal property coverage such as rare items, fine art, collectibles, antiques, jewelry, coins, gold, silver, etc. Check with your insurance company to make sure you are covered for these items before disaster happens!

After the formal appraisal process, the family may choose to sell the contents of an estate for an equitable distribution.  In addition to our appraisal services, we earn our clients gratitude and trust to provide professional and profitable estate sale services. We use techniques, expertise, and property knowledge to get our customers the highest selling price and turnover rates. 

Our service includes traditional in-home person to person sales, online platform, liquidation, and donations. From inventory and pricing to hosting and clean up, our team can provide you with expert estate sale services, ensuring that you get the most out of your sale with minimal legwork and stress on you or your family.

At Masterpiece Appraisals we offer service as a general antiques and personal property dealer. Consignment is an option if you have a few or a small collection of personal goods to sell. You will then receive payment upon completion of a sale. Liquidation may also be an option, in which case we will buy an estate or a portion of an estate for an agreed upon amount. 

For noncash donations over $5,000, the donor must get a qualified appraisal for contributions of property.  This could be anything from a deconstruction project or contents of an estate. 

Your charitable giving will qualify for a tax deduction only if it goes to a tax exempt organization, as defined by section 501(c)(3) of the Internal Revenue Code. Examples of qualified institutions include religious organizations, the Red Cross, nonprofit educational agencies, museums, volunteer fire companies and organizations that maintain public parks (Nerd Wallet).

We specialize in the deconstruction process!  When remodeling or demolishing your home, get tax deductions instead of sending them to a landfill or paying hefty cleanup fees. Donate materials that can be reused such as kitchen cabinets, appliances, windows, treatments, doors, flooring, vanities, plumbing, hardware, and furnishings. 

The donee organization is not a qualified appraiser for the purpose of valuing the donated property. By donating through Masterpiece Appraisals with our non-profit 501(c)(3) partners, you the donor, will recieve an IRS Form 8283 with Part IV of Section B signed. This acknowledgement represents receipt of the property described on Form 8283 on the date specified on the form. The donor must attach Form 8283 to the tax return to support the charitable deduction (irs.gov). 

When a client came to us after her parents passed away, we conducted an inspection. While the home did not have enough contents to justify an estate appraisal, a painting over the staircase caught the attention of Richard, head appraiser. The heir had planned to give it to a family friend, but after careful research and inspection we appraised it for $30,000! 

Sometimes an appraisal isn't necessary. Maybe you just need a rough idea of what an item is worth for your own personal decision-making purposes. We also offer consultations, estimates, and other lower cost valuations depending on your budget and desired outcome. If you're looking to sell we can help you evaluate options for high return, measure risk, and quick payout.

A quick estimate on one or a few items are always an option. We are full service! With a few photos and supplemental information, we can provide as much or as little documentation you need for personal records. Send us an email using the contact form below, book an online appointment, or give us a call during normal business hours. Please note informal valuations without on-site inspection may not be valid legal documentation in a court of law.