Contingencies Do Not Reduce the Value of Stock When They Are Speculative on the Date of Transfer

Business Valuation Update BVLaw
Legal and Court Case Update
February 24, 2000
0175 Deciduous Tree Fruits
111331 Apple Orchards
estate and gift taxation

Estate of Frank Armstrong, Jr. v. United States of America
85 AFTR2d par. 2000-561 (WD VA 2000)
US
Federal Court
Virginia
United States District Court
Crigler

Summary

The U.S. District Court for the Western District for Virginia consid­ered the value of stock gifted to the decedent's chil­dren within three years of the decedent's death.

See Also

Estate of Frank Armstrong, Jr. v. United States of America

A magistrate for the District Court for the Western District of Virginia denied the estate a valuation reduction for estate taxes and attendant costs paid by the estate after the gifts had been included in the decedent's gross estate because the gifts wer ...