Safeguarding Your Investments with Certified Appraisals

In today’s intricate and ever-changing society, the need for certified appraisals is more crucial than ever. RLC Appraisals recognizes the significance of these appraisals, offering a range of services to protect your investments for yourself and your family. Let’s delve into the importance and applications of Certified Appraisals.

The Necessity of Certified Appraisals

Certified appraisals serve as a safeguard for your investments, ensuring that you have accurate and up-to-date information about the value of your belongings. RLC Appraisals is qualified to conduct certified personal property appraisals for various purposes:

1. Insurance Appraisals: Protecting Your Assets

An Insurance Appraisal conducted by RLC Appraisals documents the existence, condition, and retail replacement value of your belongings. It is crucial not to rely on outdated information, as values can change with market conditions. To protect appreciating assets, it is advisable to have an updated Insurance Appraisal every three to five years.

2. Donation Appraisals: Substantiating Charitable Contributions

For charitable contributions exceeding $5,000, the IRS requires a Donation Appraisal. Even for donations of $1,000 or more, it is recommended to have a Donation Appraisal to substantiate the contribution. Incorrect handling of a donation can lead to liabilities for the taxpayer in terms of previous deductions.

3. Estate Appraisals: Meeting IRS Requirements

The IRS mandates an Estate Appraisal for a taxable estate. A Qualified Appraiser, such as RLC Appraisals, must thoroughly inventory and value the property of an estate to meet IRS requirements. Without proper documentation, property may be held in probate, causing delays in estate settlement.

Beyond Monetary Value: History and Provenance

While the monetary value of possessions is crucial, RLC Appraisals acknowledges that the history or provenance of an item can be equally, if not more, important. Cataloging your property serves as a written history, often containing more personal information than a standard inventory or appraisal.

RLC Appraisals goes beyond the numbers, conducting onsite consultations and “walk-through” evaluations of homes and businesses. These oral assessments provide immediate insights into the value of your property. With extensive knowledge of current market trends and prevailing values, RLC Appraisals offers valuable information about your possessions and their anticipated values in the current and relevant market.

In a complex and dynamic society, certified appraisals from RLC Appraisals act as a shield for your investments, providing accurate, updated, and comprehensive information about the value and history of your belongings.