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The Essential Executor’s Handbook by David G. Hoffman

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Chapter 6

The Appraiser and Valuation Methods

Why Values Matter

It may seem obvious that executors need to know what their estates are worth. And that is a correct instinct. But the reasons executors need to know precise values is actually more complex. You not only need to put a value on everything, you need to assign values that will be universally accepted. And establishing these universally accepted values is important for four reasons.

1.   Fairness—If a will or trust requires that a beneficiary receive an equal share of the estate but does not specify what comprises that share, accurate and accepted values are needed to first calculate the total value of the share and then to decide how to satisfy that share. Or if the will or trust requires ...

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