What date is used to determine the fair market value?
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What date is used to determine the fair market value?
The date of death, date of valuation, date of distribution or other.
Asked on January 13, 2016 under Estate Planning, California
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 8 years ago | Contributor
If you're talking about for purposes of a distribution from an estate, due to a will or intestate succession (who gets what when there is a will) and/or from a trust, the valuation should be done as close as possible to the date of distribution--i.e. you want to know the value when the heir or beneficiary receives the property.
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