The type of report to be issued is determined by its intended use and the purpose of the valuation; we match our report to the level of service required by these factors. For example, valuations for gift and estate tax purposes generally require a "full appraisal." However, reports of lesser scope (and cost) may be sufficient to establish a reasonable range of value for negotiations in a shareholder dispute or for buying or selling a business. When necessary, we consult with independent auditors so that our reports satisfy their documentation requirements.

For full appraisals, we use our best efforts to prepare a draft report within four to six weeks of receiving all of the required information. At the other end of the range, we may be able to prepare a draft of a lesser scope report within a few days. Clients are provided a draft report to ensure the accuracy of factual and/or background matters. We submit our final report after review of the draft.