An appraisal is "an independent estimate of the value of a property, business, or other asset, prepared by an authorized professional."

Equine appraisals can be utilized for various reasons, to include: insurance, IRS, litigation, divorce, bankruptcy, pre-purchase, and donations.

If you are donating a horse worth $5,000 or more, according to the IRS, “taxpayers are required to obtain a qualified appraisal for donated property for which a deduction of more than $5,000 is claimed.”