Who Needs Appraisal Services?
Updated: Jan 28, 2020
Estate Planning Appraisal Charitable Donations Equitable Divisions
Financial Appraisal Gift Tax Exemptions Disaster Loss
Divorce / Dissolution Loan Collateral Appraisals in Prenuptial Agreements
Bankruptcy Appraisal Expert Witness Probate Appraisal
Insurance Claims Appraisal Litigation Support Trust & Estate Settlements
Appraisal Fairs for Charities Public Speaking Estate Sales
Probate – Proof of Wills Equitable Distribution of Assets Fair Market Value to 3 rd Party
Many clients are unaware that the Personal Property of an Estate must be inventoried and valued during the Probate process. This requires the services
of a Professional Accredited Personal Property Appraiser who must provide a value of the Estate's contents as of the date of the Descendants' Death.
If this is not done in a timely fashion, the Estate may be rejected by the Ontario Court System. We are experienced in providing Appraisals for the
purposes of Estate Settlement and Probate and can assist you or your personal representative in their obligations involving Federal tax liability.
Dispute over value of Marital assets
Equalisation of Separation
Expert witness in court when there are disputes on value
Starting a Divorce Claim in Ontario or Quebec Provincial Court, or Superior Court - preparing and managing a Divorce can be a complicated and difficult
procedure. Each spouse is often entitled to some portion of all matrimonial property. The term is known as Equalisation or the distribution of marital
assets, requires a careful description and valuation of Vehicles, Boats, Furniture, Accessories, Jewellery, Antiques and other household items.
We can help by providing a detailed and descriptive inventory to accurately Appraise all of your commonly held Personal Property. Your Divorce Lawyer
will receive a thorough, objective report that meets the standards and guidelines of USPAP (uniform standards of professional appraisals practice), &
The International Society off Appraisers Standard for reports or that satisfies the requirements of Ontario Court ordered equitable Distribution /
Banks / Credit Unions - Loan Purposes (Small Business Development Lending)
Financial Advisors - assist in Estate planning (valuation of collectables, jewellery, antiques)
Public and private corporations; financial institutions, receivers and trustees in bankruptcy: rely on our experienced Appraisals to accurately value assets
for financing; disposals, insurance, merger and acquisition purposes. They expect and always receive Professional and Reliable Appraisals. Assets can
include machinery, equipment, consumer products, industrial inventories, as well as anything that is not; Real Property, meaning we do not conduct
Land and or Building Appraisals.
Receivership (for secured and non secured creditors) Trustees (personal/ business)
A trustee in bankruptcy (trustee) in Ontario is responsible for administering the affairs of the bankrupt estate. This involves, inter alia, preparing an
inventory of existing assets, releasing assets to the secured creditors, gathering and liquidating existing assets, reviewing claims to the assets, and
paying dividends to creditors in accordance with the scheme of distribution in Section 136 of the BIA (Bankruptcy and Insolvency Act).
The federal Bankruptcy and Insolvency Act (BIA) and Companies' Creditors Arrangements Act (CCAA) are administered by the Office of the
Superintendent of Bankruptcy (OSB) and the Courts respectively. Prestige Evaluation can provide Personal Property Appraisals for Ontario TRUSTEES
and for Individuals and or companies that have or considered filing for Bankruptcy in Ontario Canada. We are not Trustees, please contact your lawyer
or Trustee for more information and direction
Pre-Loss - for endorsements or riders
After Loss - value after a claim
Loss of Value due to damage
Antiques, family heirlooms, art objects and collectable's can valuable as sets. Unfortunately, most people rely on their homeowners insurance for
protection against losses. Many are unaware that their policies usually exclude: Antiques, Coin Collections, Furs, and fine art objects.
To ensure complete Replacement Cost Coverage, you should have your Personal Property Appraised. We specialise in providing Appraisals for
purposes of Insurance Replacement often required in claims involving loss, moving damage, theft, damage or destruction from fire, smoke or flood
Revenue Canada compliant
If you're considering making a tax deductible, non cash charitable contribution or need to file a casualty loss claim, we can assist you with a Federal or
Provincial Tax Appraisal. We follow Revenue Canada's strict requirements regarding the submission of formal Appraisals. Numerous Charitable
Foundations use our services to insure proper reporting of donated assets to their institutions.
REQUEST A QUOTE TODAY!