Michigan Personal Property Valuation Expert Witnesses
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What is a personal property valuation expert witness?
A personal property valuation expert witness is a professional who appraises items such as books, computer equipment, furniture, paintings, sculptures, and other tangible assets.
What is the role of a personal property valuation expert witness?
The role of a personal property valuation expert witness is to provide expert testimony on the value of personal property in legal proceedings.
How much can a person make as a personal property valuation expert witness?
Personal property valuation expert witnesses may receive compensation ranging from $175 to $450 per hour, or higher in certain circumstances. The fee is agreed upon by the retaining attorney and the expert.
What are the qualifications of a personal property valuation expert witness?
To be an expert witness in personal property valuation, one should have experience in appraising different types of personal property, knowledge of auction houses and markets, and familiarity with industry standards.
For a lawsuit, what type of evidence is gathered and reviewed by a personal property valuation expert witness?
A personal property valuation expert witness gathers and reviews evidence such as appraisals, sales records, and market trends to determine the value of personal property in a lawsuit.
In what type of cases might require opinions from a personal property valuation expert witness?
Personal property valuation expert witnesses may be required in cases involving estate planning, divorce settlements, insurance claims, bankruptcy, tax assessments, and disputes over the value of artwork, antiques, or collectibles.