Bob a married US citizen died unexpectedly in July. His gross estate was primarily stocks and timberland and was valued at $11,000,000 at his death. Two months after his death due to political protests around the nation the stock market had a major correction and timberland values plummeted. His estate will go directly to his children who plan to sell the land and stocks as soon as they can. His devoted wife has a substantial estate herself, and plans to move to Florida. Should the executor of his estate use the alternative valuation date? Why or why not?
Get Answers For Free
Most questions answered within 1 hours.