Trusts and Estates New York office practice head Ronni Davidowitz provided tips to Law360 on how to value intangible assets, such as intellectual property, while minimizing risks with the Internal Revenue Service (IRS). Ronni noted the importance of working with a knowledgeable, independent and objective appraiser, stating, "[There's] an exchange of information that's flowing because they're not doing it in a vacuum. You want someone who's been schooled in it and . . . you're going to give the information on which they're going to do due diligence and make their assessment." She added that the best practice to avoid IRS penalties is to be in control of the estate structure and make informed decisions about which experts to use for estate tax purposes. "The way that you can put yourself in a better position to protect against an undervaluation penalty is to get a qualified appraiser. It all comes back to that." ("5 Ways To Keep The IRS At Bay When Valuing Estate IP," May 20, 2016)