The need to value closely held corporations and associated real estate frequently arises in the context of estate administration. The value of such assets, however, is often fogged by the differing perceptions of the various estate stakeholders. Further, valuation of closely held family businesses often entwines valuation techniques with family dynamics and statutory dictates that complicate determination of the “value” of stakeholders’ interests. In addition, the real estate of a closely held business may be held in other legal entities likely established for various tax, liability, and cash-flow purposes. Disputes in valuation of these assets often occur due to differing perceptions about how to value the business and the “eye of the beholder” of different stakeholders.
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