28-53-205. Alternative valuations.

Arkansas Code — all titles (historical 2020) · legal_authorities

28-53-205. Alternative valuations.

28-53-205. Alternative valuations. (a) Whenever there is a provision in the will or governing instrument that an executor or fiduciary who is authorized or required by its terms to satisfy a pecuniary bequest or transfer in trust, with assets in kind at their federal estate tax values or at any value other than fair market values at date or dates of distribution or allocation, is authorized or required, in satisfying the bequest or transfer, to either: (1) Distribute or allocate assets, including cash, having an aggregate fair market value on the date or dates of distribution or allocation equal to or at least equal to the amount of the pecuniary bequest or transfer in trust as finally determined for federal estate tax purposes; or (2) Distribute or allocate assets, including cash, fairly representative, on the date or dates of distribution or allocation, of the appreciation or depreciation in the value of all properties available for distribution or allocation. (b) The executor or fiduciary, nevertheless, must distribute or allocate assets, including cash, having an aggregate fair market value on the date or dates of distribution or allocation equal to the amount of the pecuniary bequest or transfer in trust as finally determined for federal estate tax purposes.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-53-205

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.