Valuations for Estate Planning

What Defines a Qualified Appraiser — Mapped Across Authorities

1. Objective Neutrality (Independence)

  • IRS: Requires that a qualified appraiser be independent and not a party to, or having an interest in, the transaction being appraised.

  • The Appraisal Foundation (USPAP): Requires appraisers to perform assignments with impartiality, objectivity, and independence, without accommodation of personal interests.

  • American Society of Appraisers (ASA): Requires adherence to a strict Code of Ethics, including objectivity, independence, and avoidance of conflicts of interest.

Common principle:
A qualified appraiser must be neutral, unbiased, and independent.

2. Knowledge of the Subject Property

  • IRS: Requires verifiable education and experience in valuing the specific type of property being appraised.

  • The Appraisal Foundation (USPAP): Requires competency, meaning the appraiser has the knowledge and experience necessary to correctly identify the problem, apply appropriate methodology, and produce credible results.

  • American Society of Appraisers (ASA): Requires demonstrated expertise and experience in a defined appraisal discipline, such as gems and jewelry.

Common principle:
A qualified appraiser must have subject-matter expertise in the specific property being valued.

3. Education, Accreditation, and Valuation Training

  • IRS: Recognizes professional designations or documented education and experience in valuation, along with preparation of appraisals under generally accepted standards.

  • The Appraisal Foundation (USPAP): Requires appraisals to be developed and reported in compliance with USPAP, the recognized generally accepted appraisal standard in the U.S.

  • American Society of Appraisers (ASA): Requires formal education, examinations, peer review, continuing education, and compliance with USPAP as a condition of accreditation.

Common principle:
A qualified appraiser must have formal valuation education or professional accreditation and apply generally accepted appraisal standards.

According to these standards, there is only one qualified gems and jewelry appraiser in the State of Vermont: Kennon Young of the VT Gem Lab. 

Jewelry, gemstones, and watches are among the most frequently misunderstood and disputed assets in estate and probate matters. Appraisals produced by unqualified individuals can create unnecessary tax exposure, beneficiary conflict, and challenges during estate administration.

Why Attorneys Choose Vermont Gem Lab

  • Accreditation, credentials, and experience
  • Extensive work history
  • Independent gemological laboratory
  • Clear documentation designed to reduce dispute risk
  • Straightforward process that minimizes administrative burden

When to Engage a Jewelry Appraiser in an Estate

Attorneys typically require a qualified jewelry appraiser when:

  • Jewelry values may affect estate or inheritance tax reporting
  • Beneficiaries dispute jewelry values or distribution
  • Prior appraisals are outdated, retail-based, or unsupported
  • Estates include high-value, antique, or complex jewelry
  • Documentation must withstand potential challenge

Services Commonly Requested by Estate Attorneys

  • Estate and probate jewelry appraisals
  • Date-of-death valuations
  • Equitable distribution valuations
  • Charitable donation appraisals
  • Retrospective appraisals
  • Complex asset consultation involving jewelry, gemstones, and watches

Work is performed directly with attorneys, executors, trustees, and fiduciaries, with a focus on clarity, accuracy, and risk reduction.