Alternative Valuation Date

Alternative Valuation Date

Six months after the death of a person subject to the estate tax. If the executor of an estate believes that the value of an estate is declining or will decline, he/she may use the alternative valuation date for purposes of determining the value of the estate. This reduces the estate tax owed. Otherwise, the executor uses the date of the person's death.
References in periodicals archive ?
When you get a gift, find out the giver's basis in that asset; after an inheritance, document the date of death value (or the value on the alternative valuation date, as explained in the "Second Look" Trusted Advice column herein).
How inherited assets differ from gifts
At the end of a week of trial, the jury found the value of the property to be $25 million as of the alternative valuation date.
Offers as market value in an estate tax matter: a better indicator than the traditional appraisal methodology
It is important to note that once the election is made to opt for the alternative valuation date, it is irrevocable and must apply to all the property in the Estate uniformly.
Maximizing the profits from an estate sale
By the time these trusts are funded, several years could have passed since the first spouse's death, and the appraisals and values used at date-of-death, or the alternative valuation date, are no longer current.
Funding stale trusts: what you should know when faced with an unfunded trust
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