When questions arise concerning the value of your property, your appraiser is your agent and can prevent you from over or undervaluing things you own. We provide valuations for all types of personal property, including antiques, collectibles, home contents, and even classic vehicles. Vicky Nash Shaw, an ISA Certified Appraiser, has the knowledge, training and expertise to offer several types of professional appraisals. Each client is provided with a confidential written appraisal report which is tailored to meet the specific needs of that client. As an independent appraiser, Vicky handles each appraisal without the conflict of interest which often arises from dealers and auctioneers. All appraisals and client information is confidential. Appraisals offered include the following:
A homeowner's insurance policy provides for payment of lost items of personal property through fire or theft, however, in the event of a loss, proof of ownership and proof of claimed value must be provided by the owner. For antiques, collectibles, art, classic cars, and high end furniture, this is typically accomplished by means of a professional appraisal. For items which appreciate in value, the appraisal is a tool used by means of a professional appraisal. For items which appreciate in value, the appraisal is a tool used by insurance agents and adjustors in lieu of a receipt. For these types of items, our appraisals provide documented evidence of ownership, estimate replacement value, and provide the documentation required by insurance carriers.
For some items, such as silver, insurance agents may require an appraisal before coverage is provided. In other situations, your collection may be covered by your insurance and an appraisal is not required. However, without the appraisal, you have no way of knowing if your items are over or under insured. Replacement Cost insurance appraisals give you the current replacement cost value so you know exactly how much insurance coverage you need. Hopefully, you will never sustain a loss, but if you do, you have the appraisal which provides you the evidence you need to sustain your claim with the insurance company.
We recommend that homeowners have insurance appraisals for their sterling silver, original artwork, period antiques, and sizable collections. In our insurance appraisals, a description and photograph of each item in provided along with the replacement cost; we recommend that you store one copy of your appraisal outside your home. As you appraiser, we represent your interests and are willing to defend our appraisals in a court of law.
As estate specialists, we provide a wide range of estate appraisals and services. Our estate appraisals are tailored to the requirements of our clients. In addition, they are confidential and are developed discretely without disruption to the family. Our estate appraisals are professional documents which reflect the "fair market value" of items appraised.
For estate requiring appraisals for the filing of a federal estate tax return, appraisals are completed in accordance with the Federal Estate Tax guidelines including Revenue Procedure 65-19 and Tax Regulation 20.31. Vicky Nash Shaw meets the 'qualified' appraiser criteria outlined in the Pension Protection Act of 2006; although those standards were originally designed for charitable contributions, it appears that the IRS is extending that definition of "Qualified Appraiser" to any federal matter requiring an appraisal, including taxable estates.
When a federal tax return is not required, executors and heirs often request estate probate appraisals or inventories. These are essential tools in the estate settlement process. In situations where heirs need assistance in the development of an inventory, we can provide summary documents or appraisals. This often occurs when heirs are not local, or where heirs do not have the time to inventory the estate contents prior to probate.
We also provide an estate consulting service that can assist in determining alternatives for property disposition. In haste, there is often insufficient attention placed on identifying items of worth or of a collectible significance. In such cases, advice and assistance from a knowledgeable and objective third party can be invaluable and can insure that valuable items are not overlooked during the disposal of the estate. (See Estate Consulting)
Samuel Woodson Price Oil on Canvas
For donors who are gifting items to charity, the IRS requires that the donor obtain a qualified appraisal of the item(s) being donated, plus the appraiser must meet the provisions of the Pension Protection Act. Our charitable donation appraisals are developed in accordance with IRS publication 561, and reflect "Fair Market Value" as outlined in the regulations. If you are donating items that are over $5,000.00 in value, you are required to have an appraisal before you can take an income tax deduction for the contribution. The IRS does not tell you who to select as your appraiser, but they do outline certain criteria.
As an ISA certified, trained and tested appraiser, Vicky meets the requirements outlined by the IRS for antiques and residential contents contributions. With the enactment of the Pension Protection Act of 2006, the IRS now requires that appraiser be accredited or certified, be professionally trained and have at least three years appraisal experience in the discipline of the donated item. The IRS will not accepted appraisals by appraisers failing to meet this criteria. Vicky Nash Shaw meets the revised IRS criteria, and has completed charitable contribution appraisals since the enactment of this new provision. Select your appraiser wisely as the IRS does review and audit donation appraisals!
The IRS also defines the type of value which is used for charitable contributions, and that value is "Fair Market Value." We understand this approach to value and have the training and expertise required preparing the appraisal. We identify comparatives for all of our charitable contribution appraisals, and those comparatives are identified in the markets allowed by the IRS. We also complete IRS Form 8283 at the time we finalize your appraisal so that you or our tax preparer have the necessary tools with which to complete your tax return.
As a professional appraisal firm, we also are qualified to develop other types of appraisals. A few of these are outlined below:
Divorce and Equitable Distribution Appraisals
In instances where property is to be divided, and parties can not readily agree on value, our appraisal service provides a non-biased independent appraisal. Since our appraisals are objective, and value is determined according to USPAP standards and ISA guidelines, sometimes only one appraisal is necessary and may be used by both parties. A divorce appraisal helps negotiations between parties, especially if the parties can agree to use just one appraiser. This approach often reduces the overall cost of the proceeding and alleviates stress among both parties.
Damage Claim Appraisals
In the event of damage claims from moving and storage, or damage claims from homeowner loss, the claimant and the adjuster often do not agree on value. If part of the damaged item still exists, and/or if there are detailed photographs of the item before the loss, often an independent appraisal or third party loss of value recommendation can be utilized to settle the claim. We provide both services. In addition, we provide Casualty Loss Appraisals that are constructed in accordance with tax regulations.
Other types of appraisals include loss of use appraisals and market valuation for the purposes, of selling an item. We also provide verbal approximations of value in situations where formal appraisals are not required. If you have a special need for an appraisal that we have not mentioned, please contact us directly for more information.