James T. Hanley

The intended use of an appraisal has an important impact on the value attributed to an object, or objects.  Appraisals may be prepared for a number of different reasons. 

 

These include the determination of values for the following purposes.

 

• Insurance coverage or a casualty loss deduction

• Loan collateral

• Asset liquidation

• Establishment of a value for a non-cash charitable contribution

• Equitable distribution of assets

• Possible sale under Fair Market conditions

• Federal or state estate tax liabilities