Estate planning is not just about minimizing taxes, but also about gaining control over how your assets are passed down to your heirs. A clear and concise plan is crucial, which means you also need a well-supported valuation. Gift and estate taxes are levied by the federal government on property transfers from one person to another at death (estate tax) or while the giver is alive (gift tax). Several states also impose estate taxes. A third-party valuation expert should be included for Gift tax compliance (IRS Form 709), Estate tax compliance (IRS Form 706), State estate compliance, Non-cash charitable contributions, and Estate planning. For this reason, it is crucial to have business assets and property held in an estate or gifted to an heir professionally valued by a qualified appraiser. Not only does this result in a more precise and accurate appraisal, but also lowers the risk of tax penalties and minimizes the amount of taxes paid. Our team is practiced in discounts for lack of control, lack of marketability and built-in gains, and can create retrospective studies to establish the tax effect of divestitures, along with audit support and testimony as needed.