Generally
Normally there will be no problem in determining the value of a specific gift. The value of a pecuniary legacy of £100,000 is £100,000, and the value of a gift of chattels is the market value of the chattels immediately before the testator's death. But there will be difficult areas, for example where the testator has a controlling interest in a private company which is divided between two or more legatees.
In such a case, it is provided that if the total value of the property given by the legacies is less than the value transferred, the value of each gift for the
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