There’s a common misunderstanding that an appraised value is singularly remarkable, that is, that the fair market value (FMV) of an item is substantially the same for all purposes. Nothing could be further from the truth. Estate-planning professionals often don’t understand the assortment of appraisal designs, each of which will create vastly differing values for the same book, document, film, collectible or piece of art. I’ll concentrate on the specific objectives of each ...

All Access Premium Subscription

Your subscription will include 12 months of Trusts & Estates magazine, access to premium content on, and Trusts & Estates plus iPad app.

Already registered? here.