Estate Planning and Estate Tax
Winston Art Group prepares Fair Market Value appraisals which can be used for financial and estate planning, as well as for submission to the IRS for estate tax purposes.
- The Fair Market Value estate planning or estate tax appraisal document aids in decision-making as it pertains to equitable division of estate property among heirs and beneficiaries.
- As an independent art appraisal firm, Winston Art Group’s appraisals for estate tax are completely objective. Our appraisers have no financial interest in the property being appraised because they are not affiliated with a venue who is selling the property for profit. This allows us to value the property completely objectively, in line with the current market.
- Typically, our appraisers inspect the estate property in person and then return to the Winston Art Group office to conduct market research. In some cases, we are able to complete appraisals without an on-site inspection, from provided images, description and documentation.
- Appraisal documents are available in both hard copy and digital formats, and are easily accessible through our interactive collection management system. The appraisal document includes color digital images and full catalogue descriptions for each item, with values supported by appropriate market comparables.
- Appraisals for estate planning and estate tax are billed on an hourly basis.
- To provide a quote for an appraisal, we need to know the approximate number of pieces in the collection of each collecting category. If possible, we prefer to review a listing of the works in the collection. For appraisals for estate tax filing, we also need the date of death of the decedent.
- If the executors of the estate would like to sell some or all of the property after the appraisal has been completed, our Advisory Department specializes in estate liquidation and household clearouts.