Define the concept of Alternate Valuation Date. Explain to the executor of an estate an advantage, as well as disadvantage of electing the alternate...

Define the concept of Alternate Valuation Date. Explain to the executor of an estate an advantage, as well as disadvantage of electing the alternate valuation date of assets.

Property or assets need to be valued as they are part of the taxable estate. Alternate valuationdate is the date at which the valuation made has to be determined and is said to be the date of...