11th Circuit Disregards Changeable Buy-Sell Agreement, but Insurance Proceeds Used for Buyout Not Included in Value

Business Valuation UpdateVol. 12 No. 2
Legal and Court Case Update
February 2006

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1611 Highway and Street Construction, Except Elevated Highways
237310 Highway, Street, and Bridge Construction
estate and gift taxation
estate tax, fair market value (FMV), employee stock ownership plan (ESOP), stock repurchase agreement
Estate of Blount v. Commissioner (II)
428 F.3d 1338, 2005 U.S. App. LEXIS 23502
October 31, 2005
US
Federal Court
11th Circuit
United States Court of Appeals
John T. Grizzle (for estate)<br>Gerald M. Fodor (for estate)<br>James R. Hitchner (for IRS)
Birch

Summary

As reported in the August 2004 issue of Business Valuation Update, the issue in this estate tax case was the value of George Blount’s (decedent’s) interest in a closely held company on the date of his death.

See Also

Estate of Blount v. Commissioner (II)

Full Text of Court Cases
October 31, 2005

The issue in this estate tax case was the value of George Blount’s (decedent’s) interest in a closely held company on the date of his death.