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<p class="MsoNormal">Has anyone looked at the question of how to value a spouse's elective share in a taxable estate as between state law value and estate tax value?<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Assume there is a binding buy-sell agreement for stock to be sold at something other than fair market value (under a pre-2702 agreement). If the IRS disputes the buy-sell value and prevails so that there is a part sale/part gift of the
stock to the other parties to the agreement, is the spouse's elective share calculated on the fair market value or the buy-sell price? A number of state law cases indicate that courts have adopted estate tax valuation principals to value assets for elective
share purposes (specifically valuing annuities, etc. using IRS tables/valuation principals). Any experience to the contrary?<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Thank you,<o:p></o:p></p>
<p class="MsoNormal">Eileen<o:p></o:p></p>
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<p class="ImprintUniqueID"><font style="font-family:Arial;font-size:11pt;color:Black;font-weight:bold;">Eileen</font><font style="font-family:Arial;font-size:11pt;color:Black;font-weight:bold;">
</font><font style="font-family:Arial;font-size:11pt;color:Black;font-weight:bold;">M</font><font style="font-family:Arial;font-size:11pt;color:Black;font-weight:bold;">.</font> <font style="font-family:Arial;font-size:11pt;color:Black;font-weight:bold;">Day</font><br>
<font style="font-family:Arial;font-size:9pt;color:Black;">Partner</font><br>
<font style="FONT-SIZE: 9pt; FONT-FAMILY: Arial" color="#f04e23"><font size="1"><br>
<font style="FONT-SIZE: 9pt" color="#ff4d00"></font></font>STINSON LLP<font style="FONT-SIZE: 9pt; FONT-FAMILY: Arial" color="#ff4d00"><br>
<font style="font-family:Arial;font-size:9pt;color:Black;">50 South Sixth Street, Suite 2600</font><br>
<font style="font-family:Arial;font-size:9pt;color:Black;">Minneapolis</font><font style="font-family:Arial;font-size:9pt;color:Black;">,
</font><font style="font-family:Arial;font-size:9pt;color:Black;">MN</font><font style="font-family:Arial;font-size:9pt;color:Black;">
</font><font style="font-family:Arial;font-size:9pt;color:Black;">55402</font><br>
<font style="font-family:Arial;font-size:9pt;color:Black;">Direct: </font><font style="font-family:Arial;font-size:9pt;color:Black;">612.335.7026</font><font style="font-family:Arial;font-size:9pt;color:#F04E23;font-weight:bold;"> \ </font><font style="font-family:Arial;font-size:9pt;color:Black;">Mobile:
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