Qualified Appraisals for gifts of all types of life insurance and commercial annuities
Completion of Form 8283
Insurance policy and company due diligence analysis for charitable donees
Annual Policy Review Service
The IRS requires the use of a qualified appraiser for charitable gifts of donated property with a fair market value of more than $5,000. We provide appraisals for all life insurance and annuity contracts as well as assistance with the required IRS Forms. For additional information regarding qualified appraisals and appraiser, please refer to Section 1.170A-13(c) and Form 8283 Instructions.
Fee Schedule Basic Appraisal Fee 1$350.00 per policy Multiple Policy Appraisal Fee 2$200.00 per policy Rush Fee 3 $100.00 per policy Retainer Account 4 Negotiated Insurance Company Due Diligence Brief Report 5 $100 per company Full Report 6 $300 per company
Applies if two policies or more are appraised in the same tax year. The policies must be donated to the same charity by the same donor, although the insured and insurance companies involved do not need to be the same.
Average turnaround time is 8 to 10 business days. If an appraisal is required in 8 business days or less, or if the items listed on the Required Information Checklist are received later than April 3, 2008, this additional fee will apply, and includes normal overnight charges to the donor or charity.
Charities who receive a substantial number of insurance gifts each year can request an annual retainer account.
Recommended for older / smaller policies which the charity intends to hold in their portfolio.
Recommended for larger / newer policies which the charity intends to hold in their portfolio.
