RESTON, Va., May 21, 2015 /PRNewswire/ — The American Society of Appraisers (ASA) announces the launch of a new education initiative to address the anticipated demand for accredited personal property appraisers. Such demand is tied to the strong growth the trusts and estates industry is forecasted to experience through 2019 due to the aging of the U.S. population, growing number of wealthy households and favorable legislation raising the federal tax exemption1—all of which will drive the need for educated, tested and accredited personal property appraisers.
"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," says chair of the Society's Personal Property Discipline, Patrick H. Ela, ASA. "Examples of such may include estate tax, equitable distribution, basis establishment, probate, trust inventory and estate planning."
One of the principal challenges facing estate planning attorneys, financial planners and consumers is uncertainty about how to find a qualified appraiser. Many professionals now recommend hiring only those who have been accredited by professional societies such as the American Society of Appraisers, whose members have been educated, tested and accredited based upon the proven quality of their work as well as their experience and agreement to be bound by a Code of Ethics, follow the Uniform Standards of Professional Appraisal Practice (USPAP) and requalify every five years.
In anticipation of this demand, ASA has launched an education initiative 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. These foundation-building courses will take students through the 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.
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Upcoming Classes: PP/GJ201 – Introduction to Personal Property Valuation |
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1151 Oxford Rd., San Marino, CA |
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Cost: Early registration pricing: $845 members; $895 non-members (through August 12, 2015) |
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Regular registration pricing: $895 members; $945 non-members |
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The Huntington Library is located near Pasadena in the city of San Marino, twelve miles northeast of downtown Los Angeles. |
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820 North Michigan Ave., Chicago, IL |
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Cost: Early registration pricing: $845 members; $895 non-members (through December 23, 2015) |
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Regular registration pricing: $895 members; $945 non-members |
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LUMA is located in historic Lewis Towers on the Magnificent Mile, the heart of Chicago's cultural and shopping district. |
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Registration or more information is available online at www.appraisers.org or by calling (800) 272-8258. |
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To learn more about becoming a personal property appraiser, visit: http://www.appraisers.org/docs/default-source/discipline_pp/so-you-want-to-be-a-personal-property-appraiser.pdf?sfvrsn=10 |
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1 IBISWorld, Trusts & Estates Market Research Report, Oct 2014, downloaded May 5, 2015 from http://www.prweb.com/releases/2014/10/prweb12256838.htm |
American Society of Appraisers
The American Society of Appraisers is a world renowned and respected international organization devoted to the appraisal profession. As the oldest and only major appraisal organization representing all appraisal specialists, ASA is devoted to providing the highest possible standards in all areas of ethics, professionalism, education and designation criteria. For more information about the American Society of Appraisers, the ASA designation program for appraisers or the Society's free "Find an Appraiser" Referral System, visit www.appraisers.org or call (800) 272-8258.
Press Contact: Todd Paradis
Email
(703) 733-2124