Rachel Owned Four Assets When She Died in 2015

question 55

Essay

Rachel owned four assets when she died in 2015.
Asset Date of Death Value Alternate Date Valuation
A $1,160,000 $1,180,000
B 2,200,000 2,390,000
C 3,250,000 3,310,000
D 825,000 700,000
Which value should the executor or personal representative use for valuing the gross estate? Explain.

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Definitions:

Involuntary

Actions or processes not under the conscious control of an individual, such as breathing or the heartbeat.

Rhythmic Movement

Repeated motions that follow a certain pattern in time, often seen in dance, exercise, and various biological processes.

Photophobia

An excessive sensitivity to light, causing discomfort or the need to squint or close one's eyes.

Intolerance

An inability to tolerate a substance or a group of substances, often used in the context of food or medication sensitivity.