Estate administration
Assess a business or private shareholding where a value is needed to inform the administration of an estate. The executor's legal and tax advisers should confirm why the valuation is required and the appropriate date.
Valuation service
Business valuations for estates and shareholder matters
An estate or shareholder matter can involve a private business interest that has no quoted market price. Executors, owners and their advisers may need a clear value for a defined purpose while working through wider legal and tax questions. The starting point is the exact interest, the governing documents and the relevant valuation date.
When it is useful
Decisions this valuation can support
A shareholder exit or buyout
Work from the valuation provisions in the relevant agreement and the instructions agreed for the engagement. Identify the interest and any assumptions that need legal clarification before modelling begins.
Planning an ownership transition
Help owners understand a business interest before discussing a transfer, funding arrangement or change in participation. A documented valuation can provide a common financial reference for those conversations.
Evidence and methods
How the value is assessed
The approach depends on the business and the agreed instructions. Earnings, cash-flow, market or asset-based analysis may be appropriate. Share rights and the agreement's valuation mechanism need to be considered rather than assuming a standard discount or a simple proportion of total business value. Unresolved interpretations should be referred to the legal adviser.
Read about our valuation approach and Calvin Lim’s experience.
Information we may need
- Instructions from the executor, owner or authorised professional adviser
- The valuation date, ownership records and description of the interest
- Relevant shareholder, buy-sell or other governing agreements
- Financial statements and records available for the relevant period
- Details of shareholder loans, related-party balances and distributions
- Earlier valuations and material changes in the business or ownership
What the work can deliver
The report can explain the interest and date valued, the instructions and documents relied on, the methodology, assumptions and conclusion. For a historic date, it should distinguish contemporaneous evidence from later material and explain significant information gaps. Any intended third-party reliance should be agreed at the outset.
Scope, fees and timing
Historic records, the number of entities, access to authorised information and questions about governing documents affect scope and timing. Clarifying these issues early helps identify whether additional legal instructions or financial reconstruction are needed before the valuation can be completed.
Related support
Explore connected valuation services
- Business valuations for tax, restructures and succession
- Business valuations for disputes and family law
Real-property valuation, tax advice and legal advice require appropriately qualified advisers. Any reliance on other specialists is agreed within the engagement scope.
Practical questions
Frequently asked questions
Does every inherited business interest need a date-of-death valuation?
No single answer applies to every estate or purpose. The required date and basis should be confirmed by the estate’s advisers. For tax, the treatment of inherited assets depends on the circumstances; market value at death is not automatically the cost base for every asset.
Does a shareholder agreement determine the valuation method?
It may contain a specific mechanism, date or appointment process. Provide the complete relevant provisions, and obtain legal guidance where interpretation is unclear. The valuation should state the instructions applied.
Can a minority holding be valued by multiplying the whole-company value?
That may not answer the required question. The interest’s rights and the valuation instructions need to be considered. A discount should not be assumed simply because a holding is smaller than a controlling interest.
Discuss the purpose of your valuation
Tell us the interest involved, the intended use and any deadline. We can then discuss scope and the information needed.