As residential appraisers look to expand their horizons into different areas of work, the American Society of Appraisers (ASA) announced that it will begin an education initiative aimed at helping teach personal property appraisals.
In a news release announcing the initiative, the ASA said it is anticipating demand for property appraisals from trusts and estates, as the American population ages and a growing number of wealthy households are formed.
“As the transferring of assets from one generation to the next increases, there will be many situations when an appraisal of personal property will be needed,” said Patrick Ela, chairman of the ASA’s Personal Property Discipline. “Examples of such may include estate tax, equitable distribution, basis establishment, probate, trust inventory and estate planning.”
The association said that one of the challenges facing estate planning attorneys, financial planners and consumers is not knowing how to find a qualified appraiser. The ASA’s education initiative is for the benefit of those considering becoming an accredited personal property appraiser, including museum or auction house staff members, art advisors, art/antique dealers, retired collectors or former art history students and scholars.
The first of four Principles of Valuation (POV) courses are scheduled for September and January. The courses will take students through various approaches to valuation and focus on the fundamentals and theory behind performing proper appraisals and the methodology behind the work. They are a necessary part of the requirements to become accredited.
To register, or for more information, visit www.appraisers.org or call 800-272-8258.