We inventory and the provide an appraisal report for the entire contents of the home. We document everything including; Furniture, Art, Decor, Common Housewares, Jewelry, Antiques, Collections and all the personal property found in a home.

The appraisal report includes a breakdown of the Fair Market Value of the personal property as well as a total value of the household contents.

A typical inventory and appraisal of a property takes 10-16 hours.

Transitions works at an hourly rate only. If you wish to have items appraised, or an inventory of the contents of the estate, we can complete that at $75/hr.

In Saskatchewan an appraisal of personal property in an estate is not a universal legal requirement for every item, but it is necessary in specific situations related to taxation, legal compliance, and fair distribution among beneficiaries. 

When a Professional Appraisal Is Recommended

You should obtain a professional appraisal for personal property in an estate in the following circumstances:

1. For High-Value Items and the CRA

The primary reason for a formal appraisal is to establish the accurate Fair Market Value (FMV) of significant assets at the date of death for tax purposes. 

• Capital Gains Tax Reporting: If the deceased owned high-value personal property that has appreciated in value since they acquired it (e.g., valuable artwork, jewelry, antiques, collectibles, or a private business interest), the estate may be subject to capital gains tax.

• Estate Tax Compliance: While Saskatchewan does not have a separate estate tax, accurate valuation is crucial for overall income tax reporting (the final tax return) to the CRA.

• Lack of Clear Market Value: For items where the value cannot be easily determined through standard market searches (e.g., a simple web search for comparable items), a specialist appraiser is needed to provide an unbiased valuation. 

2. For Fair and Equitable Distribution of Assets: Appraisals are highly recommended to ensure transparency and prevent family disputes when dividing assets among beneficiaries.

• Objective Valuation : An objective, third-party appraisal helps remove emotional bias and provides a defensible value for items, which can be critical for avoiding disagreements.

• In-Kind Transfers: If one beneficiary wishes to keep a specific item as part of their inheritance share, the appraisal ensures that the value is correctly accounted for against their share of the total estate. 

3. When Required by the Court or Financial Institutions

• Probate Application: While the general value of personal property is reported on the "Statement of Property" (Form 16-14), the court may require a formal appraisal for specific high-value items as part of the probate process to verify the estate's total value.

• Financial Institution Policy: The need for probate for certain financial assets depends on the policy of the institution holding them. For larger sums, they will require a Grant of Probate, which in turn requires accurate asset valuation.