How to Avoid Bias in ValuationsHow to Avoid Bias in Valuations

As an attorney, you’re an advocate for your client. The appraiser you hire is supposed to be unbiased and follow standards to provide an unbiased appraisal so a third party or a trier of fact can determine its reasonableness. Tax Court judges have signaled that they’ll start with the most reasonable valuation in a dispute associated with a fair market value (FMV) determination. They may accept or tweak the most reasonable valuation but seek an unbiased appraisal. What can you do to ensure that you have a reasonable valuation that may be received by the Internal Revenue Service or the Tax Court if litigated? An unbiased, reasonable valuation can avoid an audit and save considerable time, energy and toil for the client. 

Estate of Michael J...