Assets belonging to the deceased estate owner are included in his or her estate at their fair market value on the date of death or, if the executor elects, their value six months after date of death.1
A Few Selected Assets

1- “Six months after date of death” is referred to as the “alternate valuation date.” Use of the alternate valuation date election must reduce both the value of the gross estate and the federal estate tax liability. If this election is made, assets sold or distributed during the six-month period are valued at the date of sale or distribution.
