Appraisal of Family Estate Timberlands
MB&G’s appraisers assisted in the settlement of the estate of a deceased member of a family-owned timberland partnership. The family’s 140,000 acre timberland property was appraised to determine its market value as of the date of death. Next, an appraisal of the decedent’s minority ownership of shares in the limited partnership was completed according to IRS regulations. Results were used in the settlement of the estate, payment of estate taxes, and distribution of the remainder to the heirs.