ESTATE TAX VALUATION
Personal Property Appraisal for Estate Tax
Personal property appraisal services for estate tax covering date-of-death fair market value, IRS Form 706 estate filings, and equitable distribution among heirs, prepared in accordance with USPAP. Chicago Personal Property Appraisers values fine art, antiques, jewelry, firearms, and full household estates for executors, attorneys, and families across the Chicago area.
- Date-of-death fair market value
- Prepared for IRS Form 706 estate returns
- USPAP-compliant, itemized reports
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Request an Appraisal
METHODOLOGY
Estate Tax Appraisals Establish Date-of-Death Fair Market Value for IRS Form 706
When an estate includes valuable personal property, the executor must report each item's fair market value as of the decedent's date of death. Chicago Personal Property Appraisers prepares USPAP-compliant appraisals that document those values with market research and comparable sales evidence, giving executors, attorneys, and accountants a report they can file with confidence.
Fair market value for estate tax is the price at which the property would change hands between a willing buyer and a willing seller, neither under compulsion and both reasonably informed. We apply that standard to fine art, antiques, jewelry, firearms, and full household contents, and we can value the estate as of the date of death or the alternate valuation date six months later when the estate elects it.
Every report identifies each item, states the valuation approach used, and is prepared in accordance with USPAP and IRS requirements for federal estate tax returns (Form 706), so the values are documented and defensible under review.
ASSET CLASSES
Chicago Personal Property Appraisers Values Fine Art, Antiques, Jewelry, and Household Contents for Estate Tax Reporting
Estates often contain a wide mix of personal property, each category requiring its own market expertise. We appraise the full range of tangible personal property commonly reported on a federal estate tax return.
Fine Art & Paintings
Oil, acrylic, watercolor, and mixed-media works valued at date-of-death fair market value for the estate.
Jewelry & Watches
Diamonds, gemstones, precious metals, and timepieces appraised with gemological expertise and market documentation.
Antiques, Furniture & Decorative Arts
Period furniture, textiles, ceramics, and collectibles authenticated and valued by trained specialists.
Firearms & Militaria
Firearms, military artifacts, and historical items assessed for condition, provenance, and fair market value.
Coins, Currency & Bullion
Rare coins, numismatic collections, and precious metals evaluated using current market standards and grading protocols.
Full Estate & Household Contents
Complete household inventories appraised comprehensively and delivered as a single itemized estate report.
HOW IT WORKS
Your Estate Tax Appraisal, Step by Step
- 01
Submit Estate Details
Share an inventory or description of the estate's personal property, the date of death, and whether the estate is electing the alternate valuation date.
- 02
Inspection & Research
We examine the items and research comparable sales, auction records, and market data to establish fair market value as of the applicable valuation date.
- 03
USPAP-Compliant Report
You receive a detailed, itemized appraisal prepared in accordance with USPAP and structured to meet IRS estate tax requirements.
- 04
File With Confidence
Your executor, attorney, or accountant files the documented values with the estate tax return, backed by a defensible report.
CREDENTIALS
Credentialed Personal Property Appraisers
Our appraisers hold credentials with leading organizations such as the ASA, ISA, and AAA, and every estate appraisal is prepared in accordance with USPAP.
ASA
ISA
AAA
USPAP-Compliant
COMMON QUESTIONS
Estate Tax Appraisal Questions
What date is used to value personal property for estate tax?
Personal property is valued at its fair market value on the decedent's date of death. If the estate elects the alternate valuation date, the property is instead valued six months after death. We prepare the appraisal to whichever date applies to the estate.
Does the IRS require a qualified appraisal for estate tax?
Personal property reported on a federal estate tax return (Form 706) must be stated at fair market value, and appraisals of significant items should be prepared by a qualified appraiser to professional standards. Our reports are prepared in accordance with USPAP and IRS requirements so they are documented and defensible under review.
What is fair market value for estate tax purposes?
Fair market value is the price at which the property would change hands between a willing buyer and a willing seller, with neither under any compulsion to act and both reasonably informed of the relevant facts. We document that value with comparable sales and market evidence for each item.
How long does an estate personal property appraisal take?
Turnaround varies by project, and we confirm timing up front. Single items and small lots are typically completed within about a week to ten business days, while larger collections and full estates generally take three to four weeks. Expedited service is available, so if you are working toward a filing deadline, tell us the date and we will confirm whether we can meet it.
Can you appraise an entire estate's contents?
Yes. We regularly appraise full estates, from individual high-value pieces to complete household inventories, and deliver a single itemized report covering every category of personal property.
Get Your Estate Tax Appraisal Started
Chicago Personal Property Appraisers delivers USPAP-compliant, date-of-death valuations for estate tax filings, probate, and settlement. Tell us about the estate and we will get you a quote.