pjc-family-2024-lib

V ALUATION OF P ROPERTY

PJC 203.3

PJC 203.3

Value of Property (Question)

QUESTION ______ State in dollars the value of each of the following items :

PROPERTY A _______________ PROPERTY B _______________ PROPERTY C _______________

COMMENT Include these additional definitions and instructions. The definitions and instructions in PJC 203.1 (value) and 203.2 (factors to be excluded for valuation of business) should be used with this question as appropriate. If only one item of property is in issue. If valuation of only one item of property is in issue, the description of the item should be substituted for the phrase each of the following items in the foregoing question. If corporate form is disputed. Chapter 205, “Disregarding Corporate Form,” includes instructions and questions to be used if a claim has been raised that the sepa rate identity of a corporation should be disregarded. In such a situation, the property at issue—the corporation and its assets—should not be included in the list of items inquired about in the question in PJC 203.3 above; inquiry about the value of the appropriate property is made in PJC 205.3 (disregarding corporate identity of corpora tion owned entirely by spouses). Duplicate inquiries about the corporation and its property could result in conflicting answers. No valuation of separate property. If it is undisputed that an item is separate property, that item should not be included in the list of properties inquired about in the foregoing question.

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