Articles on Estate Planning

AppraiseItNow is excited to share the definitive guide to IRS Form 8283 appraisals for practicing appraisers. Navigating the appraisal requirements for IRS Form 8283 can be a complex. As professionals tasked with valuing noncash charitable contributions, appraisers play a pivotal role in ensuring donors can claim their tax deductions while adhering to IRS regulations. Form 8283, used to report noncash donations exceeding $500, requires accurate valuations, detailed documentation, and compliance with strict guidelines to avoid disallowed deductions or potential audits. This guide provides a comprehensive overview of the key responsibilities appraisers have when completing Form 8283, including qualified appraisal standards, common pitfalls to avoid, and specific requirements for high-value or specialized asset types.

Are you looking for a reliable and experienced partner to appraise your donated goods? AppraiseItNow is the perfect appraisal partner for your donations. Our team of appraisers are experienced and qualified professionals that can provide accurate appraisals for all types of donations. We offer extensive services that can provide market values for donated items that you can trust. We understand the importance of providing accurate appraisals for donors and strive to ensure that our services provide the highest quality and most accurate results. Experience and trust are two of the most important assurances when appraising donations, and AppraiseItNow provides both.

When inheriting property as an Executor, it is important to understand the process of a Probate Appraisal. Not only does it affect the value of the property, but it also plays a key role in resolving disputes between heirs and other issues that might arise. In this article, we will discuss the purpose of probate appraisal, common issues that can arise, what factors affect the value of appraised items, how to prepare for a probate appraisal, required paperwork, the qualifications of a probate appraiser, and how to get the most accurate appraisal possible. We will also explore the benefits of obtaining a probate appraisal, which appraisals can be excluded from probate, and what to do in the event of a dispute. By understanding the process, Executors can ensure that the most accurate appraisal is achieved.

When donating items to charitable organizations, it is important to understand the importance of appraisals. Appraisals help ensure that the items being donated are worth the amount claimed on tax returns. Appraisals also increase the safety of donations, as some items may require a qualified appraiser to be present for the transaction. This article will explain the ins and outs of appraising items for donations, including what items require appraisals, the different methods of appraising, qualified appraisers, and safety measures. We will also provide resources to further understand appraisals and their importance in charitable contributions.

Navigating the probate process can be complex and time-consuming, but having the proper appraisals in place can make it significantly easier. In this article, we will discuss the probate process, outline the benefits of probate appraisals, and provide details on who is typically involved in this process. We'll also explore the amount of time it typically takes to complete a probate appraisal, the paperwork that is associated with it, and the element that professional appraisers consider when determining an asset's value. We will also touch on the difference between appraisals and valuations as well as answer whether a probate appraisal can be used as legal evidence.

Charity begins at home, and the impact of charitable giving can reach around the world. As such, it’s important for donors to have the resources to make informed decisions about their charitable contributions. Appraisal is one way to do that. With the right information and tools, donors can unlock the potential of their donations by obtaining an accurate appraisal and the accompanying reports for tax purposes. In this article, we will discuss the benefits of appraisals, the types of assets that can be appraised, and the criteria used to value charitable contributions. We will also explore how AppraiseItNow can help donors conduct effective research to properly value their charitable donations. By arming donors with the information they need to make informed choices, they can increase the impact of their donations.