Don't skimp on an appraiser,' New York Times report cautions

It's not just the executors of the estates of Michael Jackson or J.D. Salinger that require the help of a qualified valuator, a recent article in the New York Times makes clear. Anyone owning a small business, an art collection, hard-to-value intellectual property, or involved in a messy divorce or business lawsuit should retain an appraiser to avoid or successfully meet value disputes with the I.R.S. or the other litigant. The report explains why valuation is as much an art as a science and why it is important to hire an experienced, scrupulous appraiser. It also quotes notable experts, including Lance S. Hall (FMV Opinions) and Chris M. Mellen (Delphi Valuation Advisors).

For more on the Jackson valuation case, click here.