Estate and Gift Tax

Estate and Gift Tax

One component of an estate plan is the gifting of closely held company shares to the next generation.  Either the gifting of shares or a tax filing for a deceased shareholder’s estate should include a valuation of the transferred stock by a competent, independent business appraiser.  The appraiser should be able to work in a professional and timely manner with the tax attorney as well as other professionals who are providing services to the client.  Also, the appraiser should be able to support the valuation opinion before the Internal Revenue Service as well as the Tax Court and Appellate Court.  

Relevant background includes: