The name of the game in estate planning has long been valuation. Virtually, all lifetime estate planning arrangements involve some aspect of valuation, including grantor retained annuity and income trusts, qualified personal residence trusts and so-called "freeze" techniques. The lower the value, the lower the estate, gift or generation-skipping transfer tax that is imposed, as a general rule. Valuation often also is a key element in income tax matters, from determining the value of non-cash compensation income to the value of property contributed to charity entitling the donor to a charitable income tax deduction.
Diana S.C. Zeydel, Mitchell M. Gans, and Jonathan G. Blattmachr,
New Penalties on Appraisers and Related Valuation Worries Spawned by the Pension Protection Act of 2006, 32 ACTEC J. 285 (2006-2007)
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