Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

valuation date

Read a random definition: Venetian patent statute

A quick definition of valuation date:

A valuation date is a specific date used to determine the value of a person's property after they have passed away. In tax law, there is an alternate valuation date that is six months after the person's death. The estate can choose to appraise the property either on the date of death or on the alternate valuation date. This is important for determining the basis of the property for tax purposes.

A more thorough explanation:

Valuation date refers to the date on which the value of an asset or property is determined. In tax law, there is a specific alternate valuation date that is used in certain circumstances.

The alternate valuation date is a date that is six months after a person's death. In the case of a deceased person's estate, the estate can choose to appraise the property either as of the date of the person's death or as of the alternate valuation date.

For example, if a person dies on January 1st, their estate can choose to value their property as of January 1st or as of July 1st (six months later). If the value of the property has decreased during that time, it may be advantageous for the estate to choose the alternate valuation date.

The valuation date is important because it determines the basis of the property, which is used to calculate taxes. If the property is valued higher, the taxes will be higher as well.

valuation | valuation list

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
LSD+ is ad-free, with DMs, discounts, case briefs & more.