When it comes to identifying the value of certain types of assets, the most practical solution is to turn to a certified professional. This becomes even more important if there’s some chance that other parties will question those projected values. Here are a few examples of situations that would call for the aid of expert witness services Baton Rouge LA in order to avoid complications.
Appraisals to Help With Settling an Estate
Being the executor of an estate is a serious undertaking. Along the way, some parties may object to the decisions that you make regarding the sale of assets. That can be particularly true when it comes to the sale of motor vehicles or different types of watercraft.
If you had those items appraised by a certified professional, there is someone who can attest to the accuracy of the current value. In many instances, having this type of expert in your corner will be enough to calm any complaints. It allow you to proceed with settling the estate.
Preparing to Sell Assets as Part of a Divorce Action
Divorce means deciding what to do with the marital assets. While some of them will be divided between the two parties, others may be sold so the money can be shared between them. When one party thinks that a car or boat should be worth more than claimed, things can get ugly.
A certified appraiser can provide expert testimony about the value of those assets. This makes it all the easier to design a fair division of property. It is setting asking prices for assets that are to be sold. When presented to the court, the odds of those appraisals being accepted are high.
Placing a Value on Assets in Preparation for Bankruptcy
Filing for a personal bankruptcy is something that most people try to avoid if possible. When you reach a point that this is the only real solution. It does mean complying with all of the requirements of the bankruptcy court. One of those requirements is to provide a list of all assets and their estimated values.
With assets like cars and watercraft, the court may consider some of them exempt and order others sold to partially settle your debt. When those values are provided by one of the local expert witness services Baton Rouge LA. The court is highly likely to accept them. This will help you clear one more hurdle toward regaining a sound financial footing.
Seeking a Better Settlement With an Insurance Provider
Most people are fine with accepting whatever type of compensation their insurance providers. It offer as the result of an accident claim. If you’re not so sure and the provider isn’t willing to negotiate, it may be necessary to retain legal counsel. As part of the resulting suit, you need documentation that backs up the figure you are seeking.
A certified appraiser can provide the expert testimony that you need. Armed with this type of professional support. You stand better odds of being able to convince the court that your claim against the insurance company is reasonable and valid.
There are other situations that would call for expert testimony about the appraised value of an asset. Talk with a professional today and find out what can be done. The effort now could pay off in a big way later. Read Why lawyers wear black coat.