We all know the famous saying…”A picture is worth a thousand words!” A whole house photographic inventory captures photographs of every item and room in your home or business. This photographic inventory allows Palm Beach Appraisals Group to create a retroactive USPAP Certified Appraisal that can be submitted to your insurance company or attorney the event of disaster or death. A photographic record can expedite that claims process and helps to ensure less back and forth with the insurance.
A written catalog is an itemized list organized room by room with special attention paid to those items of value. Your written catalog is delivered together with a photographic record that allows Palm Beach Appraisals Group to create a retroactive USPAP Certified Appraisal. A USPAP Certified Appraisal is recognized by insurers and it can be submitted to your insurance company or attorney in the event of disaster or death.
ESTATE SETTLEMENT INVENTORY
An Estate Settlement Inventory is an itemized written list, together with photographs, organized by room including current fair market values. Estate settlement inventories are helpful in situations where an appraisal for tax purposes is not required, but equitable distribution among family, friends or heirs is necessary.
How does a Collections Inventory differ from a whole-house inventory? It’s in the details. We photograph each item individually, and the written description includes the details of each item, piece-by-piece. For example:
Artwork – artist, medium, title, measurements.
China – manufacturer, pattern, number of place settings and piece in each place setting, serving pieces.
Porcelain – manufacturer, country of origin, name of piece, identifying number, measurements.
Silver – manufacturer, country of origin, identifying number, number of pieces.
WHOLE HOUSE INVENTORY
Complementing the photographic record is an itemized list of your personal property. Organized by room, the detailed description includes manufacturer of furniture, artist and identifying marks of art and collectibles, manufacturer, model and serial numbers of electronics.
While preparing home and business inventories, we are often asked if we know the value of some or all of the property. As a member of the International Society of Appraisers, Andy Rose is a qualified Appraiser and capable of providing accurate Uniform Standards of Professional Appraisal Practice (USPAP) compliant certified appraisal reports. This is considered the “gold standard” in the appraisal field.
EQUITABLE DISTRIBUTION VALUES
We are often asked, while preparing home and business inventories, if we know the “market, wholesale or auction value” for purposes of distributing property to family or friends. While different than an appraisal, Andy Rose uses his twenty-one years of experience and expertise in the fine art, antiques and collectibles auction industry to ascertain market and auction values.
ANNUAL RENEWALS AND UPDATES
As ownership of assets changes, an update of this information is recommended. As a service to our clients, we offer annual renewals and updates at a nominal fee. These updates will keep your records current without paying for the full service again.