If you are a homeowner, you will want to check your homeowner’s insurance policy in order to know what coverage limits exist on your valuables. There is a good chance that a separate policy schedule will be needed to cover certain items of value. Consult your insurance agent to determine if you need a personal property appraisal.
In our experience we have been witness to the disastrous effects of natural disasters on personal property. If your fine arts, antiques, or collectibles are not insured, you may be at risk of losing these items without recieving compensation.
MGF Appraisals performs appraisals for estate tax, gift tax, and estate distribution. We specialize in fine and decorative arts, and also in general household contents. Consult with your attorney or accountant who will advise you as to when you will need an appraisal.
A divorce is a trying time in a person's life but a personal property appraiser is indispensable for an equitable division of marital assets. In order to save time and money a property appraiser is the first professional that the adminstrator, arbitor or attorney should call.
When claiming a tax deduction on charitable contributions of fine art, decorative arts, antiques, and other objects of art, the IRS requires that the donor obtain an appraisal by a qualified appraiser when the fair market value of individual items or group of similar items donated is more than $5,000. MGF Appraisals performs donation appraisals in conformity with IRS requirements.
MGF Appraisals LLC. is not affiliated with any gallery, auction house or private dealer.