For Immediate Release

Feb. 26, 2025

AIS, the Appraisers International Society, is announcing the development and release of a series of online seminars, “Did You Know?” oriented towards professional estate personal property appraisers.

AIS’ free Estate Appraisals Series of “Did You Know?” And “How-To’s?” will start in mid-March with an AIS-Law Webinar and Appraisal Reporter articles for Estate Professionals on common errors and misconceptions regarding estate-related Personal Property Appraisal & Valuation Services, drawn from AiCertification’s Global Valuation Standard (GVS).

Elly Rosen, AISociety President and personal property appraisals primary standards developer since 1982 will be joining with AiGovernance Chair Bill Korst, AiSCV AVS-GJV AiV, will launch AIS’ new outreach to estate professionals on its LinkedIn platform which has 25,000 Global, Multi-specialty Followers and Connections, including many – Estate Professionals and related affinity professions.

Did You Know Fair Market Value is essentially the same for estate tax as it is for donations?
– Elly Rosen, AIS President

“Did You Know?” Estate, Gift, Inheritance and Capital Gains Tax Topics include:

 

• Did You Know Fair Market Value (FMV) is essentially the same for estate, gift, inheritance and capital gains tax obligations as it would be for Charitable Contribution Donation and Cultural Property Gift tax deduction claims?
• Did You Know Estate appraisals for Probate “Inventory & Appraisement” and other estate needs usually need to be submitted “Under Oath,” under penalties for perjury, regarding the appraiser’s qualifications and disinterestedness.
• Did You Know that Appraisals for Distribution of Estate Property by Heirs often have jurisdiction specific “Market Value” requirements?
• Did You Know that Estate Fair Market Value (FMV) may not usually be based on selling prices to dealers buying for resale?
• Did You Know that estate FMV losses from sales to dealers to get the money to pay such taxes are often deductible may usually be deducted as an “Expense of Administering the Estate”, including related appraisal, broker and other expenses?
•  Did You Know that many (most?) “Appraisers” – with little to no valuation appraisal education – are unaware of decades old regulations for valuations of household contents and personal effects?
•  Did You Know that professional valuation appraisers are well versed in the 4 or more FMV’s for 3 or more dates the estate may need for related estate tax decisions and filings?
•  Did You Know that the extent of massive penalties – additions to tax – which might be levied on the estate for tax “Undervaluation”.
•  Did You Know that for estates to avoid Undervaluation penalties by claiming an exception for “Reasonable Reliance [on an appraiser]” may require that appraiser to be a “Qualified Appraiser” under U.S. Federal Donation laws and regulations.”
•  Did You Know that an estate usually requires a “Qualified Appraisal” by a “Qualified Appraiser” if they wish to claim a deduction for donation of used, depreciable, household contents which is not in good to better condition and has a claimed FMV of over $500?

The Appraisers International Society (or AIS) is a professional community of personal property appraisers and the developers of the “Global Valuation Standard”.  The Global Valuation Standard is the personal property appraisal profession’s multi-specialty appraisal standard.

In addition to the development of standards, the AIS is the appraisal profession’s leading developer of training, education, and the dissemination of personal property appraisal information.

 

Media Contact:

Elly Rosen (646) 656-0936
AISociety.com
Email: aimentor@aisociety.com

 

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