Estate Valuations & Pricing Systems, Inc. (EVP Systems) is the national leader in providing ready-to-file historical securities valuations for Form 706. It started as Michael A. Walker, Ph.D., envisioned an easier way to value securities for estate taxes. He established Applied Economics in 1983, which was later incorporated under the name Estate Valuations & Pricing Systems, Inc., in March 1987, with an office in Old Town Pasadena, California. He developed EstateVal and released the first copy in March 1984 to his first client, Valley National Bank, in Phoenix, Arizona, now known as Bank One. EstateVal soon earned its fame as was readily accepted by banks, trust departments and lawyers nationwide. Later, three other programs were introduced to aid in the estate valuations and research: CostBasis, CapWatch and HeirShare. For many years, enhancements were made to make it the best valuation package.
To accommodate a growing number of clients, EVP moved from first Pasadena to Westwood, California, then to Santa Monica, and finally to its current home in Woodland Hills, California. In 1991, a New York branch office was established to better support East Coast clients.
In 1997, the Internal Revenue Service signed an exclusive five-year contract with EVP Systems and renewed it in 2002. The IRS uses EstateVal to verify all pricing on Form 706.
Later in the 90's, in keeping up with booming technological advancements in the computer world, EVP Systems decided to completely rewrite EstateVal, but now, in the Windows version. As a result, an all-important new version of EstateVal was released. In February of 1998, EstateVal 5, the first Windows version of the software, was launched. It was equally dependable as the DOS version, but was faster and easier to use.
EVP Systems has since introduced EVP Office, a complete suite of applications for estate valuation. This includes EstateVal, CostBasis and CapWatch, all as Windows versions. It's more powerful, efficient and easier to use, with a lot of added features.
Another highlight, in 2002, EVP Systems built its backup site -- a complete copy of the Data Center located in the main office. It was designed to assure continuity of service in case of interruptions in the main office. The site is located in Santa Barbara, California.
EVP Systems is still committed to finding new ways of pricing securities easier and better. It shows by its growing number of users who depend on them for their every valuation need. Since 1984, when EstateVal was first introduced to their first client, EVP Systems now has 3,500 clients, and growing.
EVP Systems will still continue to race against rapid technological advancements and will still continue to think of some ways to better their products and support.