Estate of Frank A. Branson - Page 19




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          judgment.  See Fed. R. Evid. 702; Snyder v. Commissioner, 93 T.C.           
          529, 534 (1989).  The Court, however, is not bound by an expert's           
          opinion.  We weigh an expert's testimony in light of his or her             
          qualifications and with respect to all credible evidence in the             
          record.  Depending on what we believe is appropriate under the              
          facts and circumstances of the case, we may either reject an                
          expert's opinion in its entirety, accept it in its entirety, or             
          accept selective portions of it.  See Helvering v. National                 
          Grocery Co., 304 U.S. 282, 294-295 (1938); Seagate Tech., Inc. &            
          Consol. Subs. v. Commissioner, 102 T.C. 149, 186 (1994).                    
          Moreover, where experts offer divergent estimates of fair market            
          value, we decide what weight to give these estimates by examining           
          the factors they used in arriving at their conclusions.  See                
          Casey v. Commissioner, 38 T.C. 357, 381 (1962).  We have broad              
          discretion in selecting valuation methods, see Estate of                    
          O'Connell v. Commissioner, 640 F.2d 249, 251 (9th Cir. 1981),               
          affg. on this issue and revg. in part T.C. Memo. 1978-191, and              
          the weight to be given the facts in reaching our conclusion                 
          because "finding market value is, after all, something for                  
          judgment, experience, and reason", see Colonial Fabrics, Inc. v.            
          Commissioner, 202 F.2d 105, 107 (2d Cir. 1953), affg. a                     
          Memorandum Opinion of the Court.                                            
               Where necessary, we may reach a determination of value based           
          upon our own examination of the evidence in the record.  See                





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