Tips From the Pros: Focus on “Fair” Value, Discard “Discounts” From the Planner’s Dictionary

As a long time reader of and author for Trusts & Estates, I appreciate the opportunity to join as a columnist for Tips From the Pros. I’ve always found these columns to be a tremendous resource in my practice, so hopefully the discussions in this and future contributions will be helpful to yours. There are several topics that I’m already looking forward to covering, but for the first one: a timely and at times controversial (with taxing authorities) topic—valuation discounts with