When a New York estate includes a privately held business, determining its value can be one of the most important aspects of the probate process. With more than 23 years of valuation experience, Lakelet Advisory Group (LAG) provides independent, accredited business valuations that help executors, trustees, attorneys, and families navigate complex estate matters with confidence.

An independent, accredited business valuation provides an objective and well-supported conclusion of value that helps minimize disputes, facilitates estate administration, and withstands scrutiny from beneficiaries, attorneys, courts, taxing authorities, and the IRS.

An inaccurate valuation can create significant complications, including disputes among beneficiaries, challenges to estate tax filings, delays in business succession, and even probate litigation. Conversely, a professionally prepared valuation provides a credible foundation for tax reporting, equitable distributions, and informed decision-making during an already difficult time.

As business ownership continues to represent a growing portion of personal wealth, a well-supported business valuation is becoming an essential component of successful estate administration. For families, fiduciaries, and legal professionals, understanding the importance of a defensible valuation is no longer just a financial consideration—it’s a critical step toward achieving a smooth and successful probate process.