A stronger gift or estate valuation starts with the controlling date, the governing documents, the exact ownership interest, and the supporting financial records being defined early.
Whether you are working with a valuation expert for the first time or preparing for an upcoming transfer, having the following materials organized at intake shortens the timeline and strengthens the report:
The more complete the record package at intake, the more defensible the final report.
A stronger gift or estate valuation engagement begins when the controlling date, governing documents, ownership interest, and supporting records are defined before report drafting begins.
The date of gift, date of death, alternate valuation date, or transfer date anchors the entire analysis. The controlling date determines which market data, financial periods, and discount evidence the expert will use, and disputes frequently arise when the date is not clearly identified or documented at intake.
A majority interest, minority LLC membership unit, limited partnership interest, and fractional real property ownership each carry different discount implications. The applicable standard of value and the applicable discounts depend on the precise interest being valued, and disputes often turn on whether the interest was correctly defined at the outset.
The operating agreement, partnership agreement, shareholder agreement, buy-sell agreement, and any amendments must be provided before the engagement begins. Restriction provisions, transfer limitations, and distribution rights all affect the defensibility of discounts, and incomplete governing documents are a frequent source of valuation disputes.
What type of valuation does the firm provide for gift and estate tax purposes? The firm provides business valuations for gift and estate tax purposes under the fair market value standard. Engagements include minority interests in closely held businesses, fractional real property ownership, limited partnership interests, and LLC membership units.
What qualifications does the valuation expert hold? Joey N. Friedman holds the CPA, ABV, MACC, and MIB designations and provides IRS-defensible business valuations. The ABV (Accredited in Business Valuation) credential is issued by the AICPA and requires demonstrated competency in business valuation methodology.
What is required to begin a gift or estate valuation engagement? The firm requires the controlling date, governing documents, financial records, and identification of the precise ownership interest before scope and timeline are confirmed. A complete intake package shortens the engagement timeline and strengthens the final report.
How long does a gift or estate valuation engagement typically take? Timeline depends on the complexity of the interest, completeness of the record package, and whether the engagement is pre-filing or in response to an IRS inquiry. The firm confirms scope and timeline before work begins.
Does the firm accept engagements from counsel and fiduciaries? Yes. The firm works with families, fiduciaries, and counsel at all stages — including pre-filing gift and estate tax valuations, IRS examinations, Tax Court proceedings, and settlement negotiations.
Whether you are counsel, a fiduciary, or a family member evaluating a transfer, estate administration, or closely held business interest, contact the firm for a confidential consultation about the valuation issues in your matter.
