Whether you have just one piece of art that you consider to be of value, or you have hundreds of pieces, you will want to make sure that you are getting a professional art appraisal. There are many reasons as to why this is such an important thing to do, such as the following:
Planning Your Last Will And Testament
It is important to make sure that you are getting your final wishes known in a legal document, known as the last will and testament. When you have a proper art appraisal done, it will be easier for you to divide up your art assets in a way that makes it fair to everyone. Then again, you might want to make sure that a particular heir gets the stuff with the highest value, possibly because they helped you the most in your later years or because their needs are much greater than the others in the family. Either way, you will be able to decide who gets what.
Dividing Assets In A Divorce
You want to make sure that you are going to be able to protect your best interest in the event you get a divorce and the marital assets have to be divided up. Since the value of your various pieces of art will vary from one item to the next, it is important to have a detailed list of everything and its individual value. You could even have a lot of artwork appraised as a set. This way, should marital assets end up needing to be divided in some manner, you or your lawyer will be able to make that happen without trouble.
Getting Your Art Insured
If you have a sizable collection of art, you may want to financially project yourself by getting insurance coverage for all of it. This way, should someone steal from you or your art become lost in a fire or flood, you will be able to make an insurance claim. You might not be able to replace some of your rarer art pieces, but you can at least get its value in cash money and use that to purchase new art if you would like.
Always make sure that you are taking the time to research the various art appraisers in your area. Find one that has openings in the near future so you do not have to wait much longer.
For more information, contact a local art appraisal service.
