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Estate Liquidation - What Do You Do?
Your relative has died and you have an entire household of lifetime of accumulated belongings to deal with. What do you do?
There are four basic options to liquidate an entire household available to you. At Bosch Appraisal & Estate Services we provide a one hour onsite consultation to trustees and heirs to go over the best options available to you given your specific situation. We tailor our consultation to the exact situation at hand.
You have the option of selling things yourself. We are happy to guide you through this process. If you have us come out, we provide you with a booklet of San Francisco Bay Area Liquidation Resources and discuss the most reasonable options for your specific situation.
You have the option of donating things to charity. Depending upon what you wish to donate you might need an appraisal in order to take a write off with the IRS. We are accredited to write appraisals of personal property for the Internal Revenue Service according to their strict guidelines.
You have the option of selling everything to a buy-out dealer, which is the least financially beneficial way to proceed, but might be the best choice at certain times when the house must be cleared quickly. We provide a list of Bay Area people who buy outright.
You have the option of hiring us to liquidate the entire household for you, which will include informed pricing and marketing of goods, including brokering sales for you at auction, when an item is too important to be sold locally. We hold onsite Estate Sales when it is determined to be the best liquidation solution for your situation.
We are Accredited Appraisers with the International Society of Appraisers, Since 1997. This means we are required to abide by a extensive Code of Ethics, which includes that we do not buy anything we appraise. We also are required to remain up-to-date in our specialty area (Antiques, Fine Art and Residential Contents) by taking and passing a Requalification Examination every five years.
We love what we do and we look forward to serving you when you call. We are happy to discuss your particular situation with you over the phone to see what the best course of action might be for you. Take advantage of our Free One-Half Hour Telephone Consultation by calling us today at 707-773-3970.
“Eight Rules to Avoid Loss to Estate Personal Property from Commonly Made Mistakes"
Bosch Appraisal & Estate Services’ mission is to educate estate professionals, trustees and heirs of the importance of estate personal property. We suggest calling a qualified appraiser of personal property as the first thing to do when assigned with the important task of settling an estate. If there are antique furniture items, oil paintings, works on paper, antiques, fine china, collectible porcelains, art glass, sterling silver, oriental rugs, leather bound books, jewelry, collectibles and other property in the residence of the deceased, the accumulative total can be considerable.
"When Do You Need An Estate Tax Appraisal"
"Understanding Estate Tax, Reporting to the IRS and the Definition of Fair Market Value"
The executor of an estate must file a Federal estate tax return if the value of the gross estate at the date of death exceeds the allowed unified credit exemption equivalent which is increasing to $3,500,000 effective for decedents dying on or after January 1, 2009.
What Is It and What Is It Worth?
You must know the answers to these two important questions before you short-sell or distribute anything in an Estate.
Charitable Contribution Appraisals
"What you need to know about the term Fair Market Value and IRS Form 8283."
Equitable Division of Personal Property in an Estate
“How to Divide Personal Property Fairly Amongst Heirs”
One of the most difficult and emotional processes of settling an estate is the fair division of the personal property of the deceased amongst heirs. Our experience is that there are usually many different scenarios happening all at once. Trustees and executors are left needing to sort through the personal lifetime accumulation of belongings of a recently deceased loved one. Trustees and heirs need to find a way to divide property fairly. Usually this is the first time the Trustee and heirs have ever had to do this. Several heirs can want and fight over the same valuable item. The item heirs “think” might be valuable, is not valuable at all. A valuable item has been left to one heir, and no one knows how to equalize what is left to the rest of the heirs. Some items are highly desired by some heirs and have no value except sentimental. Nobody knows what is worth what amount, or whether Grandma’s teacup is valuable or not. There is so much personal property that this in addition to the recent loss of a loved one, becomes a daunting task for the Trustee or Executor.
Downsizing Made Easy
Start Now. Don’t wait until the last minute. Give yourself plenty of time to downsize prior to your move.
Set Small Sustainable Goals. Dedicate one month to a particular room. Devote one hour, three times a week.
Appraisals: Most Frequently Asked Questions
What exactly is an Appraisal?
An appraisal is a researched written opinion of value by a trained professional appraiser. While antique dealers or auctioneers are often extremely knowledgeable about antiques, especially expert in areas in which they specialize, they do not necessarily know how to appraise an item or how to write an appraisal to the acceptable industry standards.
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