Gift & Estate Valuation Services for Families, Fiduciaries, and Counsel

Whether you are counsel handling a pre-filing transfer, a fiduciary administering an estate, or a family member trying to understand the value of a closely held interest, a defensible valuation report starts with the right date, ownership documents, and source records. The valuation report should explain the valuation date, ownership interest, discounts, source records, and assumptions clearly enough for fiduciaries, beneficiaries, advisors, tax authorities, courts, or other decision-makers to evaluate.

What to Gather Before a Gift or Estate Valuation Begins

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:

Valuation date. Identify the controlling date — date of gift, date of death, alternate valuation date, or date of transfer. The chosen date anchors the entire analysis and affects which market data and financial periods the expert will use.
Governing documents. Provide the operating agreement, partnership agreement, shareholder agreement, buy-sell agreement, and any amendments. Restriction provisions, transfer limitations, and distribution rights all affect the defensibility of discounts.
Ownership structure. Clarify what interest is being valued — a majority interest, a minority LLC membership unit, a limited partnership interest, or fractional real property ownership. The applicable standard of value (fair market value for gift/estate tax) and the applicable discounts depend on the precise interest.
Source financial records. Gather at least three to five years of tax returns (federal business returns, K-1s, and personal returns for the decedent or donor) along with recent balance sheets, profit and loss statements, and any third-party appraisals of underlying assets. Missing records delay the engagement and can weaken defensibility.
Prior valuations, earlier transfers, and related appraisals should be identified so the report can explain consistency with prior positions or document the basis for any change.

The more complete the record package at intake, the more defensible the final report.

Questions That Usually Decide a Gift or Estate Valuation Dispute

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 — whether the engagement is pre-filing, part of estate administration, or connected to an IRS examination, appeals proceeding, or other dispute.

What is the controlling valuation date?

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.

What interest is being valued?

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.

Are the governing documents complete?

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.

Gift & Estate Valuation FAQ

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 Friedman holds the CPA, ABV, MACC, and MIB designations and provides defensible business valuations for gift, estate, fiduciary, and dispute contexts.

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, part of estate administration, or connected to an examination or dispute. The firm confirms scope and timeline before work begins.

Does the firm accept engagements from families, fiduciaries, and counsel?

Yes. The firm works with families, fiduciaries, and counsel at all stages, including pre-filing gift and estate tax valuations, estate administration, IRS examination support, dispute evaluation, and settlement negotiations.

Discuss a Gift or Estate Valuation Matter

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.