Determine value in land at time of death?

[Guest tightlie2]

A man died with all assets in a land portion of a retiment plan. Just prior to his death the land sold for about 4 times the value it was on the books. The land was sold on contract with about 1/4 paid in cash and the balance on contract with the land for security.

3 questions?

All the land in the plan is now sold. Is the fund value equal to the amount of the sale or a percent of that to insure against default of the loan?

In the event of the death what is the time frame of value. The death took place prior to the plan recieving a value for the plan year.

When can the death benifit be distributed and is it taxable?