The auctioneer, the specialized experts and the insurance experts carry out different types of inventories of your assets. They draw up a detailed document with a precise listing of your valuable objects by specialty. Inventory, preliminary, recollection, all these terms are similar. Let's go further.
Do you know? What objects in your home are popular? Drawings, vintage cars, signed jewelry have taken off of course.
Vintage wines hidden in your cellar or certain fashion accessories become valuable if they are easily identifiable.
By calling upon a professional of the art market, you thus benefit from all his expertise. The expert is generally a member of a professional syndicate. You can check his qualities on the sites of recognized organizations like for example that of the judicial commissioners, or the Company of the Insurance Experts.
On a day-to-day basis, a prior inventory of your assets will help you protect your current and future assets.
In the event of a claim, such as theft or water damage, photographs are insufficient to prove the value of the object. It is up to the claimant to bring the burden of proof (according to article
1315 of the civil code). The inventory made before the loss can therefore be used as proof of the existence and condition of the damaged or missing goods at a certain date.
How do you do it when decorative objects or jewelry are passed down from hand to hand? Indeed, you do not always have the proof of ownership in case of inheritance.
In this case, the Expert engages his responsibility when he signs an inventory for insurance purposes. He details and gives precise information on each object allowing to identify it: technique, signature, period, state.
In addition, this document allows you to adapt the coverage limits corresponding to the categories of contractual goods that appear in your contracts: jewelry, valuables and furniture. In other words, in the event of a claim, the insurance contract applies in most cases at the declared value. In other words, in case of theft, accidental damage or destruction of art objects and any other furniture, the insured must justify the claimed value.
This is when the preliminary inventory is fully justified.
In the case of a value agreed upon by the insurer, the inventory will also be the document used to calculate the loss. In this case, the insurance company agrees to pay the indemnity according to the inventory
Let's take the concrete case of a painting bought for 10 000 francs in 1998. How to revalue it on the day of the loss? The inventory will provide the necessary information to find its value corresponding to the average price in public sales rooms or galleries on the day of the loss. The proof of the condition of the work as well as its authenticity engages the responsibility of the Expert.
The preliminary or conservatory expertise is also of major interest in the event of family disputes which would require a distribution of lots. In the case of a divorce or separation, the auctioneer is your ally in the management of your estate.
He accompanies the notaries on a daily basis to determine the value of the lots. Thus you will be able to respect the rights of the family when the shares are equitable.
What are the resale and purchase values today of your jewelry and fashion accessories such as a HERMES bag? Do you know the value of your antique furniture that belonged to your family?
The value of objects fluctuates according to fashion and time. It is therefore necessary to update this information regularly depending on the type of object.
Indeed, why risk paying inappropriate inheritance taxes? The inventory of the furniture allows you to reduce your duties in certain cases.
"According toarticle 764 of the General Tax Code, let's take a concrete case. The estate of Mrs. Martin has total assets of 700,000 €. We add up the value of her apartment, her bank accounts and all other products.
In the first case, if we apply the fixed rate of 5%, the administration considers that she owns 35 000 € of furniture. Consequently, her daughter will have to pay 133 462 € of tax, after abatement of the 10 000 € excluding notary fees.In the second case, her daughter opts, with the advice of her notary, to carry out an inventory by calling on an auctioneer. The auctioneer estimates the value of the furniture at €10,000
She will pay only €125,962 in duties, after deducting the €100,000 excluding notary fees.The result is a saving of €7,500 in direct line".
Aude Ceysson, Auctioneer
The designation of the legal representative of the protected adult is made by decision of the guardianship judge). Then, a legal observation period of 15 days elapses during which the placement under guardianship can be contested.
After this period, the tutor must make an inventory of the financial, movable and immovable property of the protected adult.
The protected person must be present at the inventory operations provided for in article 503 of the Civil Code. Depending on his state of health or age, his lawyer may represent him. In the absence of a public or ministerial officer, two witnesses of full age who are not in the service of the protected person or of the person exercising the protective measure may substitute themselves.
This inventory first contains a description of the furniture. Then an estimate corresponds to the real estate as well as the movable goods, the designation of the cash in hand as well as a statement of the bank accounts, the investments and the other securities.
The persons present date and sign the inventory.
In summary,
The inventory or the preliminary expertise as an ally will follow you throughout your life. It adjusts to the evolution of your assets. It is essential to adapt the guarantees of your insurance contracts or any other patrimonial situation, and will allow you to protect yourself in the best possible way in all circumstances.
