Business, Legal & Accounting Glossary
A second valuation date of a decedent’s estate. Typically, six months after death, a person’s estate is subject to estate taxes. If the estate executor believes that the valuation of the decedent’s estate is declining, or will soon decline, then he or she may opt to use this alternate date of valuation in order to determine the value of the estate. This has the effect of reducing the estate taxes that are owed. If this date is not used to value the estate, then the date of the decedent’s death will be used.
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This glossary post was last updated: 20th November, 2021 | 0 Views.