Trusts and Estates > Valuations > Valuations of Private Promissory Notes

Dec 1, 2009 12:00 PM

Valuations of Private Promissory Notes

, By Suzanne Daggert & Gary Ringel

They're often overlooked in gift and estate tax reporting — but can provide opportunities for significant tax savings

By Suzanne Daggert & Gary Ringel

Recent declines in the real estate and credit markets provide a unique opportunity in valuations of promissory notes.

At first blush, the fair market value (FMV) of promissory notes, secured or unsecured, appears to be easily determined. Treasury regulations presume it to be the amount of unpaid principal, plus any interest accrued to the date of valuation.

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