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Frequently Asked
Questions
No Frequently Asked Questions Found.
Assignments can involve many asset categories, including personal property, artwork, jewelry, vehicles, machinery and equipment, inventory, cryptocurrency, and business interests. Reports are typically retrospective to the legally required date and are developed in accordance with recognized professional standards such as USPAP. The objective is to provide a credible, supportable value that fiduciaries and courts can rely upon.
AppraiseItNow appraises many different asset types for probate court, including:
- Personal property: Furniture, household items, jewelry, sports memorabilia
- Art: Museum-grade and lower-tier artwork
- Machinery & Equipment: medical equipment, trailers, tractors, CNC machinery
- Cryptocurrency: Bitcoin, NFTs, Ethereum
- Vehicles: cars, boats & marine surveys, trucks, buses
- Business Interests: Privately-held shares in companies or funds, LLCs, notes, and more
Who We Service
For charitable contribution appraisals, we mainly service:
- Households & HNWIs
- Estate executors and personal representatives
- Probate attorneys
- Estate planners and attorneys
- Registered Investment Advisors
- Accountants and Tax Attorneys
Is an appraisal required for probate?
Probate appraisal requirements vary by state and court rules, but they are generally needed to establish the fair market value of estate assets as of the date of death for legal, tax, and distribution purposes. Courts often mandate professional appraisals for significant non-cash assets like real estate, business interests, artwork, jewelry, or collectibles, especially when filing an inventory, dividing assets among heirs, or settling debts and taxes.
Low-value household items may use simpler valuations, but real property almost always requires a formal date-of-death appraisal to comply with probate proceedings and avoid delays.
What items need to be valued for probate?
Probate commonly requires valuation of property owned by the decedent at death, especially assets without an obvious public market price.
These may include personal property, artwork, jewelry, collectibles, vehicles, machinery and equipment, inventory, cryptocurrency, and interests in privately held businesses or partnerships.
Even when an asset will eventually be sold, fiduciaries often need a date-of-death value for reporting and allocation purposes.
What valuation date is used in probate?
In most administrations, assets are valued as of the decedent’s date of death.
Who hires the appraiser in a probate matter?
The executor, administrator, or estate attorney usually engages the appraiser on behalf of the estate.
Who pays for a probate appraisal?
The cost is generally treated as an expense of administration.
Payment is typically made from estate funds and coordinated by the executor or counsel, subject to court approval where required.
How can an appraisal help prevent beneficiary disputes?
An independent valuation establishes an objective benchmark for decision-making.
This can be particularly helpful when distributing assets in kind, negotiating buyouts among heirs, or determining whether property should be sold. Clear documentation from a neutral expert often reduces perceptions of favoritism or error.
How long does a probate appraisal take?
It completely depends on what types of assets you are looking to have appraised and how large the assignment is.
Below are rough estimates by asset type:
- Vehicles: 3-4 days
- Personal Property (art, furniture, etc.): 1-2 weeks
- Machinery & Equipment: 1-2 weeks
- Inventory: 1-2 weeks
- Business Valuations: 2-3 weeks
- Boston
- Worcester
- Springfield
- Cambridge
- Brockton
- New Bedford
- Fall River
- Lowell
- Chicopee
- Lynn
- Quincy
- Newton
- Somerville
- Lawrence
- Framingham
- Malden
- Medford
- Taunton
- Revere
- Barnstable Town
- Haverhill
- And more!
APPRAISEITNOW APPRAISERS ARE BEST-IN-CLASS & CREDENTIALED BY LEADING APPRAISAL ORGANIZATIONS LIKE THE ISA, ASA, & MORE.
