Establish “Fair Market Value” for the following reasons:
Some factors that affect your horse's value.
- Pre-purchase or sale evaluation
- Estate Planning
- I.R.S. – Tax Donations
- Tax Audit
- Lending Institution (Collateral)
- Litigation Expert Witness
- Background Pedigree
- Show Record
- Awards and Prize Values
- Offspring Records
- Physical traits such as health, age, confirmation
- Breed and type characteristics
- Statements from trainers and vets are helpful
- Also, certificates of pedigree
Why get an appraisal?... At some point in a horse owners life, situations may occur that are unforeseen and require you to prove the value of your horse. It is a typically unknown fact, that when donating or gifting a horse, in excess of $5000, a certified equine appraisal is required.
This is when you need a professional horse appraiser who is compassionate and can advise you of the proper process and procedures.
Who uses these appraisals?...
- Breed Associations
- Charitable Organizations
- Divorce and Estate Settlements
- Estate Planners
- Expert Witnesses
- Family Trusts
- Purchases and Sales
- Tax Planning