If the Value of the Gross Estate Is Lower on the Alternate

question 94

True/False

If the value of the gross estate is lower on the alternate valuation date than on the date of death, the date of death valuation cannot be used.

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Definitions:

Norms

Shared rules or guidelines within a society or group that dictate appropriate and acceptable behaviors, values, and beliefs.

Prescriptive

Describes an approach or rule that indicates how things should be done, setting standards or norms for behavior.

Proscriptive

Relating to prohibitions or restrictions, especially in terms of rules or laws.

Intimate Zone

The physical space immediately surrounding someone, into which encroachment feels uncomfortable, safe for close friends and family.