WOODLAND HILLS, CALIF. - May 2, 2002 - Trust officers, probate attorneys and accountant subscribers of EVP Office securities valuation software are able to track changes, such as sales, spin-offs, mergers, splits, partial sales, calls, distributions and other transactions that can take place within an estate's portfolio between the Date of Death and Alternate Date filings. The resulting complete, accurate EVP Office report can be simply attached to the Form 706 return. No additional typing or calculations are required.
Similarly, divorce attorneys find that they can quickly value and compare portfolios on the date of marriage and date of separation. CPAs can easily determine the values of gifts.
"Today, there seems to be an on-going process of spinning off companies or merging with others," explains Michael Walker, PhD., Estate Valuations and Pricing Systems CEO and president. "Add to this that securities are often liquidated between the date of death and the alternate date and you have created very complicated reporting requirements. Additional care is needed to obtain the right values and accruals."
Only EVP Office can provide such a solution because both its CapWatch and EstateVal components are vital to coming up with the final report. CapWatch queries over 1.5 million capital changes from the past decade, searching for splits, spin-offs, calls and other transactions that affect subsequent inventories. EstateVal then individually values the full range of those securities, including equities, municipal bonds, mutual funds, savings bonds, corporate and government bonds, GNMAs, FNMAs, CMOs, UITs, and U.S. Treasuries.
Uniquely, EstateVal handles all the details automatically and its printed reports even list the transactions as sub-items under the original security, assuring that neither the customer nor the IRS are confused.
"Since the IRS uses EstateVal to assure such valuations are included in the Alternate Date filing, it makes sense that estate professionals would also use EstateVal to assure their clients' Form 706 Alternate Date reports are accurate," Walker adds. "Determining inventory adjustments in which complex portfolio matters change between two dates is easier and more IRS-friendly with EVP Office."
Estate Valuations & Pricing Systems, Inc. was founded in 1984 and launched the first version of EstateVal shortly after. The program has since grown to be the world's most popular software for performing historical security valuations for IRS Form 706 and Form 709. In 1997, the Internal Revenue Service signed a five-year contract with EVP Systems to use EstateVal exclusively to verify all Form 706 returns in the country. Estate Valuations and Pricing Systems, Inc. is located at 5855 Topanga Canyon Blvd., Suite 520, Woodland Hills, Calif. 91367. The website address is www.evpsys.com.