Estate of George Blount v. Comm. of IRS

BIRCH, Circuit Judge:

Confronting the verisimilitude of American life, death and taxes, this appeal asks us to decide a recurring issue of asset valuation for estate tax purposes and whether a stock-purchase agreement meets the requirements of a tax code exception to the general valuation-at-fair-market-value rule. The estate of Blount was required to sell Bount’s shares when he died, and Blount’s family business owned an insurance policy to ensure that it would have sufficient liquidity to accom plish the contractual buyout. We AFFIRM the Tax Court’s determination that the stock-purchase…