Estate Finance Family Tax Plan Question

1. Mr. Brady dies on January 5, 2019. At his death, Mr. Brady owns the following assets with the following date of death values:

• Blackacre - $10 million
• 100 shares of Brady Inc. stock - $10 million
• Picasso painting - $10 Million
• On February 5, Blackacre is distributed. On February 5, the fair market value of Blackacre is $11 million.
• On March 5, the Picasso painting is sold for $11 million.
• On July 5, 2019, 100 shares of Brady Inc. stock has a fair market value of $6 million.

Is Mr. Brady's estate eligible to make an alternative valuation election under 2032? If so, calculate the value of Mr. Brady's gross estate (including the alternative value of each asset) using the alternative valuation method under 2032.