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Estate Valuation Archives

How is diminished capacity established in a will contestment?

There is a range of circumstances that can lead up to the contestment of a will. Significant alterations, disinheritance of children or relatives and other unusual circumstances will at least raise eyebrows, and in some cases, lead to contestment. One of the most common arguments offered in support is that the decedent's diminished capacity was exploited. These are the criteria that constitute diminished capacity.

The value of an estate matters in business succession

This blog has discussed in previous posts the complexity and importance of putting a value on the stock in a privately held family business. The issue of how much a business is worth can become especially important when there is a legal dispute over business succession.

A quick refresher on evaluating private stock

Although a previous post here discussed how to put a value on a private business for probate purposes, some Saint Paul, Minnesota, residents might not know about how business valuation relates to placing a price on shares of stock in a private company. In any event, a quick refresher might be helpful, especially since many probate litigation issues are the result of disputes over estate valuation, particularly when the item in question is hard to put a price tag on.

How the Minnesota estate tax gets figured

Last week's post on this blog discussed how the Minnesota estate tax differs slightly from the federal estate tax. The post also discussed how the estate tax Minnesota can present issues that lead to probate litigation. With that in mind, it may be helpful for our Saint Paul, Minnesota, readers to understand more about how the estate tax is figured.

What is an estate tax and how does it work?

Just like the federal government, Minnesota has an estate tax that it imposes on certain Minnesota estates. Unlike an inheritance tax, which is imposed directly on an heir or beneficiary, the estate tax is imposed directly on the property of a deceased person an ordinarily will be paid before the property is distributed to the heirs.

Handling estate evaluation and other inventory legal issues

In a recent post, this blog discussed the inventory, an important document that is filed at the outset of the administration of an estate. The inventory of an estate gives the family and other heirs their first clear indication of what assets are in an estate and what the relative value of those assets, such as real estate, stocks, and bank accounts are.

Inventories can foreshadow estate valuation issues

In Minnesota, a duly appointed personal representative has an obligation to file what is called an inventory of a deceased person's estate. The personal representative must file this inventory with the court, especially when the court is supervising the administration of the estate. When the estate unsupervised, the personal representative mails the inventory to the surviving spouse, the heirs and any one else with an interest in the estate, including a creditor, who asks for a copy.

We help clients value small businesses correctly

As a recent post on this blog discussed, sometimes, the correct estate valuation of a Minnesota estate hinges upon how much a private business, family-held or otherwise, is worth. This can be difficult to determine because, unlike publicly traded companies, there is no open market that reflects a buying and selling price for a share of stock in that business.

How do I estimate the value of my family's business?

As this Minnesota blog has discussed in the past, sometimes, probate litigation arises because a family cannot agree on how to value a family business when a long-time owner and manager dies. This type of dispute is difficult because most family businesses are not publically held companies. As a result, it is very hard to get an exact idea of how much a share in the business is worth and, by extension, the exact value of an estate.

How do I put value on a work of art in Minnesota?

This blog has on previous occasions discussed how Minnesota residents can go about placing a dollar value on items that can prove difficult to price. Estate valuation can be a touchy subject during the probate process precisely because some of the most valuable items in an estate do not have an obvious price upon which all parties would agree. This scenario leaves plenty of room for argument and litigation.

For Assistance with Estate Disputes & Other Matters, Contact Us

To learn more about the firm and how we can assist you,
contact Mason & Helmers in St. Paul, Minnesota. Call 651-323-2548 or 877-389-5533 (toll free) to set up an appointment.

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Mason & Helmers
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