Paramount Analysts cannot stress enough how critical it becomes for you to hire one of our qualified appraisers to conduct an accurate appraisal of all your belongings for your real estate plan. Don’t overlook a comprehensive and fair valuation of real property, personal property such as family heirlooms, jewelry, vehicles and equipment, bank accounts, and retirement accounts. It helps you know your financial worth. Even more importantly, it becomes integral to your loved ones getting well taken care of in the future, after you pass away. Your real estate plan gives the legal process a clear guide on dividing your property among your heirs and others.
Appraisal Key to Effective Real Estate Plan
Developing your real estate plan can be complex and uncomfortable. But Paramount Analysts does its best to make the process easier for you and everyone involved by creating a detailed and accurate appraisal of all your belongings. This helps you track the value of your belongings, allowing you to make informed decisions about buying or selling your valuable assets, such as your home or commercial property. More importantly, it provides a clear direction during the legal process of how you want those assets divided among your heirs and others upon your death.
During the financial planning process, unfortunately, many people commonly overlook or misunderstand the importance of including an accurate and comprehensive appraisal in their real estate plan.
Paramount Analysts provides experienced and Certified General Appraisers, who have earned the MAI Designation by the Appraisal Institute, to do your evaluation. We have offered fair and ethical valuations and counseled our clients on complex real estate planning matters for decades.
So, don’t delay. Get an up-to-date appraisal from Paramount Analysts. You’ll be glad you did, once we complete your real estate plan.
Why Obtain Appraisals in the Estate Planning Process?
The American Society of Appraisers offers several reasons why appraisals should be done during real estate planning. Many experts recommend appraisals get updated annually.
One reason includes complying with IRS regulations when it comes to values claimed on estate or gift tax returns. Plus, it becomes smart to have in case of an IRS audit. ASA also points out appraisal costs can be deducted on estate tax returns and, in some cases, estate planning, for example, if you have a family limited partnership.
Other reasons include a qualified appraiser can help you catalog valuables, maximize your tax benefits and provide a benchmark of the fair market value of all your belongings. This especially comes in handy when buying or selling your real property, such as a home, or other land you may own. This is typically your most valuable asset.
How Do Appraisals Get Used?
Appraisals allow you to know the value and better manage your financial assets during your lifetime. This helps you to make informed decisions should you, for instance, decide to buy or sell your commercial property.
In addition, whether in probate or in a will, assets usually get distributed equally among all heirs and any others you may have designated. Having values based on a list of industry-specific criteria makes this process typically go smoother and ensures your wishes get followed.
The overall value also assists in the determination of any federal or state estate taxes that are potentially due upon your death. Generally, having a comprehensive and accurate appraisal as part of your real estate plan makes it easier on everyone involved.
Call Paramount Analysts for Accurate Appraisal of Your Property!
We understand developing a real estate plan can be stressful, but Paramount Analysts’ expert appraisers can help you navigate this challenging task. Don’t procrastinate on creating an effective real estate plan, call us today!
