Andrew W. asked
How is the value of a personal property loss calculated in a court award when clothing, furniture, and personal property are contaminated due to the negligent actions of a contractor who created friable asbestos by opening walls, tearing out asbestos pipe wrap, and leaving the debris unprotected for months, causing asbestos dust to spread throughout the home and coat everything not in closed containers? Additionally, how does this differ from insurance replacement cost coverage, and for tax purposes, how and when should the value of the loss be figured and taken?
January 14th, 2023
Andrew N. answered
In court, the value of personal property loss is typically calculated based on the current cost of r...
January 14th, 2023
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