Multi-Disciplinary Valuation: CRE, Business, Cost Seg
Washington Estate Tax Valuation
Washington State imposes estate tax at significantly lower thresholds than federal levels, with rates reaching up to approximately 20%.
As a result, many estates that are not subject to federal estate tax may still be taxable at the state level.
Valuation plays a central role in determining the taxable estate value and must be prepared with a high level of rigor and defensibility.
Why Valuation Matters
Estate tax is based on the fair market value of assets at the ownership level, not simply individual assets viewed in isolation.
In many cases, this includes:
- Multiple LLCs and S corporations
- Real estate and operating businesses
- Partial ownership interests subject to discounts (DLOC, DLOM)
- Intercompany relationships and holding structures
Valuation directly affects:
- Determination of taxable estate value
- Support for ownership-level discounts
- Allocation across business and real estate components
Accurate valuation is essential to ensure consistency, defensibility, and alignment with reporting positions.
Multi-Disciplinary Valuation Requirement
In Washington, estate valuation is rarely a single-discipline exercise.
Many engagements require coordinated analysis across:
- Business valuation
- Commercial real estate valuation
- Ownership and entity structure analysis
This is particularly important where:
- Multiple entities are involved
- Assets are interdependent
- Ownership interests are not controlling
- Real estate and operating businesses are held together
Valuation must reflect the economic reality of the ownership structure, not isolated asset values.
Common Washington Estate Profiles
Typical engagements include:
- Estates above $3M subject to Washington estate tax
- Multi-entity structures (often 10+ LLCs)
- Real estate portfolios held through entities
- Family-owned operating businesses
- Mixed asset estates combining business and real estate
These situations require integrated, ownership-level valuation, not template-based reports.
Discounts and Defensibility (DLOC / DLOM)
Ownership interests in closely held entities are often subject to:
- Discount for Lack of Control (DLOC)
- Discount for Lack of Marketability (DLOM)
In Washington, these discounts are:
- Closely reviewed
- Frequently challenged if unsupported
- Central to valuation conclusions
Defensible valuation requires:
- Proper structural analysis
- Market-based support
- Consistency across entities and asset classes
Coordination with Professional Advisors
Estate valuation is typically performed in coordination with:
- Estate planning attorneys
- Certified public accountants
- Fiduciaries and trustees
Valuation conclusions are developed to align with:
- Legal structure
- Reporting requirements
- Ownership context
Senior-Led, Select Engagements
This is a senior-led valuation practice.
- Engagements are handled directly by the principal
- Work is selective and situation-specific
- Analysis emphasizes clarity, defensibility, and consistency
The focus is on assignments where valuation conclusions materially affect reporting and ownership-level outcomes.
Professional Background
David Hahn, ASA, CVA, CCIM, CM&AA, MAFF, MBA
Certified General Real Estate Appraiser
Certified Business Valuation Analyst
Senior valuation professional with over 35 years of experience in business valuation, commercial real estate, and multi-disciplinary ownership-level analysis across complex asset, entity, and ownership structures.
Seattle – Bellevue Presence
Location: Bellevue, Washington
Service Area: Greater Seattle, Puget Sound, and Portland–Vancouver metropolitan region
Contact
For Washington estate tax valuation requiring senior-level involvement:
📞 425-644-6200
Engagement Note
This practice is selective and is not structured for standardized, high-volume, or price-driven valuation assignments.