Further improved system and methods for computing to support decomposing property into separately valued components

• US 7,107,239 B2
• Filed: 02/16/2001
• Issued: 09/12/2006
• Est. Priority Date: 10/28/1992
• Status: Expired due to Fees

• Current Assignee: Graff/Ross Holdings LLP
• Original Assignee: Graff/Ross Holdings LLP
• Inventors: Graff, Richard A.
• Primary Examiner(s): FADOK, MARK A
• Application Number:
  US09/785,254
• Publication Number:
  US 20020046144A1
• Time in Patent Office: 2,034 Days
• Field of Search: 705/1, 705/4, 705/30, 705/31, 705/35, 705/36, 705/37, 705/38, 705/36.R, 705/36.T
• US Class Current: 705/36.00R
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 40/08 Insurance
• CPC Class Codes: G06Q 40/10 Tax strategies
• CPC Class Codes: G06Q 40/123 Tax preparation or submission
• CPC Class Codes: Y02P 90/90 Financial instruments for climate change mitigation, e.g. environmental taxes, subsidies or financing

Abstract

A computer and methods for valuing components temporally decomposed from property, and for producing documentation, including tax and insurance. In one variation, there is a separate market-based valuation of each of a plurality of components temporally decomposed from the property, the components including an estate for years interest and a remainder interest.

Claims

1. A computer apparatus valuing components temporally decomposed from property, the computer apparatus including:

an input device converting input data representing the property into input signals representing the input data;

a computer having a processor, the processor connected to receive the input signals, the processor programmed to change the input signals to produce modified signals representing a separate market-based valuation of each of a plurality of components temporally decomposed from the property, the components including an estate for years interest and a remainder interest; and

an output device connected to the processor converting the modified signals into documentation including the respective valuation of each of the components.

2. The computer apparatus of claim 1, wherein at least one of the valuations reflects that there is an entity for at least one of the components, the entity from a group consisting of a pass-through entity for United States federal tax purposes and an entity that is allowed a United States federal tax deduction for distributions to holders of equity interests in the entity.

3. The computer apparatus of claim 2, wherein the entity is a special purpose entity.

4. The computer apparatus of claim 3, wherein the property is real estate.

5. The computer apparatus of claim 3, wherein the property is tangible personal property.

6. The computer apparatus of claim 3, the apparatus further including:

a second input device to receive at least some of the documentation including at least one of the valuations, the second input device converting second input data representing at least one equity interest in one of the components into second input signals representing the second input data, the second input data including the at least some of the documentation;

a second computer having a second processor, the second processor connected to receive the second input signals, the second processor programmed to change the second input signals to produce modified second signals representing a valuation of an equity interest in one of the components; and

a second output device connected to the second processor to convert the modified second signals into documentation including the valuation of the equity interest in the one of the components.

7. The computer apparatus of claim 6, wherein the equity interest is a fractional interest.

8. The computer apparatus of claim 7, wherein the fraction of the fractional interest is one.

9. The computer apparatus of claim 2, wherein at least one of the valuations reflects that there is a second entity for a second of the components, the second entity from a group consisting of a pass-through entity for United States federal tax purposes and an entity that is allowed a United States federal tax deduction for distributions to holders of equity interests in the entity;

and

wherein at least one of the entities is an entity with at least one limited liability equity interest.

10. The computer apparatus of claim 9, wherein the entity is a special purpose entity;

and

wherein the second entity is a special purpose entity.

11. The computer apparatus of claim 10, wherein the property is real estate.

12. The computer apparatus of claim 10, wherein the property is tangible personal property.

13. The computer apparatus of claim 10, the apparatus further including:

a second input device to receive at least some of the documentation including at least one of the valuations, the second input device converting second input data representing at least one equity interest in one of the components into second input signals representing the second input data, the second input data including the at least some of the documentation;

a second computer having a second processor, the second processor connected to receive the second input signals, the second processor programmed to change the second input signals to produce modified second signals representing a valuation of an equity interest in one of the components; and

a second output device connected to the second processor to convert the modified second signals into documentation including the valuation of the equity interest in the one of the components.

14. The computer apparatus of claim 13, wherein the equity interest is a fractional interest.

15. The computer apparatus of claim 14, wherein the fraction of the fractional interest is one.

16. The computer apparatus of claim 9, wherein the property is real estate.

17. The computer apparatus of claim 9, wherein the property is tangible personal property.

18. The computer apparatus of claim 9, the apparatus further including:

a second input device to receive at least some of the documentation including at least one of the valuations, the second input device converting second input data representing at least one equity interest in one of the components into second input signals representing the second input data, the second input data including the at least some of the documentation;

a second computer having a second processor, the second processor connected to receive the second input signals, the second processor programmed to change the second input signals to produce modified second signals representing a valuation of an equity interest in one of the components; and

a second output device connected to the second processor to convert the modified second signals into documentation including the valuation of the equity interest in the one of the components.

19. The computer apparatus of claim 18, wherein the equity interest is a fractional interest.

20. The computer apparatus of claim 19, wherein the fraction of the fractional interest is one.

21. The computer apparatus of claim 2, wherein the property is real estate.

22. The computer apparatus of claim 2, wherein the property is tangible personal property.

23. The computer apparatus of claim 2, the apparatus further including:

a second input device to receive at least some of the documentation including at least one of the valuations, the second input device converting second input data representing at least one equity interest in one of the components into second input signals representing the second input data, the second input data including the at least some of the documentation;

a second computer having a second processor, the second processor connected to receive the second input signals, the second processor programmed to change the second input signals to produce modified second signals representing a valuation of an equity interest in one of the components; and

a second output device connected to the second processor to convert the modified second signals into documentation including the valuation of the equity interest in the one of the components.

24. The computer apparatus of claim 23, wherein the equity interest is a fractional interest.

25. The computer apparatus of claim 24, wherein the fraction of the fractional interest is one.

26. The computer apparatus of claim 1, wherein at least one of the valuations reflects that at least one of the components is a limited liability component.

27. The computer apparatus of claim 26, wherein another of the valuations reflects that another of the components is a limited liability component.

28. The computer apparatus of claim 27, wherein the property is real estate.

29. The computer apparatus of claim 27, wherein the property is tangible personal property.

30. The computer apparatus of claim 27, the apparatus further including:

a second input device to receive at least some of the documentation including at least one of the valuations, the second input device converting second input data representing at least one equity interest in one of the components into second input signals representing the second input data, the second input data including the at least some of the documentation;

a second computer having a second processor, the second processor connected to receive the second input signals, the second processor programmed to change the second input signals to produce modified second signals representing a valuation of an equity interest in one of the components; and

a second output device connected to the second processor to convert the modified second signals into documentation including the valuation of the equity interest in the one of the components.

31. The computer apparatus of claim 30, wherein the equity interest is a fractional interest.

32. The computer apparatus of claim 31, wherein the fraction of the fractional interest is one.

33. The computer apparatus of claim 26, wherein the property is real estate.

34. The computer apparatus of claim 26, wherein the property is tangible personal property.

35. The computer apparatus of claim 26, the apparatus further including:

a second input device to receive at least some of the documentation including at least one of the valuations, the second input device converting second input data representing at least one equity interest in one of the components into second input signals representing the second input data, the second input data including the at least some of the documentation;

a second computer having a second processor, the second processor connected to receive the second input signals, the second processor programmed to change the second input signals to produce modified second signals representing a valuation of an equity interest in one of the components; and

a second output device connected to the second processor to convert the modified second signals into documentation including the valuation of the equity interest in the one of the components.

36. The computer apparatus of claim 35, wherein the equity interest is a fractional interest.

37. The computer apparatus of claim 36, wherein the fraction of the fractional interest is one.

38. The computer apparatus of claim 1, wherein at least one of the valuations reflects that there is an entity for at least one of the components, and wherein at least one equity interest in the entity is a limited liability interest.

39. The computer apparatus of claim 38, wherein the entity is a special purpose entity.

40. The computer apparatus of claim 39, wherein the property is real estate.

41. The computer apparatus of claim 39, wherein the property is tangible personal property.

42. The computer apparatus of claim 39, the apparatus further including:

a second input device to receive at least some of the documentation including at least one of the valuations, the second input device converting second input data representing at least one equity interest in one of the components into second input signals representing the second input data, the second input data including the at least some of the documentation;

a second computer having a second processor, the second processor connected to receive the second input signals, the second processor programmed to change the second input signals to produce modified second signals representing a valuation of an equity interest in one of the components; and

a second output device connected to the second processor to convert the modified second signals into documentation including the valuation of the equity interest in the one of the components.

43. The computer apparatus of claim 42, wherein the equity interest is a fractional interest.

44. The computer apparatus of claim 43, wherein the fraction of the fractional interest is one.

45. The computer apparatus of claim 38, wherein the entity is from a group consisting of a pass-through entity for United States federal tax purposes and an entity that is allowed a United States federal tax deduction for distributions to holders of equity interests in the entity.

46. The computer apparatus of claim 45, wherein the entity is a special purpose entity.

47. The computer apparatus of claim 46, wherein the property is real estate.

48. The computer apparatus of claim 46, wherein the property is tangible personal property.

49. The computer apparatus of claim 46, the apparatus further including:

a second input device to receive at least some of the documentation including at least one of the valuations, the second input device converting second input data representing at least one equity interest in one of the components into second input signals representing the second input data, the second input data including the at least some of the documentation;

a second computer having a second processor, the second processor connected to receive the second input signals, the second processor programmed to change the second input signals to produce modified second signals representing a valuation of an equity interest in one of the components; and

a second output device connected to the second processor to convert the modified second signals into documentation including the valuation of the equity interest in the one of the components.

50. The computer apparatus of claim 49, wherein the equity interest is a fractional interest.

51. The computer apparatus of claim 50, wherein the fraction of the fractional interest is one.

52. The computer apparatus of claim 45, wherein the property is real estate.

53. The computer apparatus of claim 45, wherein the property is tangible personal property.

54. The computer apparatus of claim 45, the apparatus further including:

a second input device to receive at least some of the documentation including at least one of the valuations, the second input device converting second input data representing at least one equity interest in one of the components into second input signals representing the second input data, the second input data including the at least some of the documentation;

a second computer having a second processor, the second processor connected to receive the second input signals, the second processor programmed to change the second input signals to produce modified second signals representing a valuation of an equity interest in one of the components; and

a second output device connected to the second processor to convert the modified second signals into documentation including the valuation of the equity interest in the one of the components.

55. The computer apparatus of claim 54, wherein the equity interest is a fractional interest.

56. The computer apparatus of claim 55, wherein the fraction of the fractional interest is one.

57. The computer apparatus of claim 38, wherein at least one of the valuations reflects that there is a second entity for a second of the components, and wherein at least one equity interest in the second entity is a limited liability interest.

58. The computer apparatus of claim 57, wherein both of the entities are special purpose entities.

59. The computer apparatus of claim 58, wherein the property is real estate.

60. The computer apparatus of claim 58, wherein the property is tangible personal property.

61. The computer apparatus of claim 58, the apparatus further including:

a second input device to receive at least some of the documentation including at least one of the valuations, the second input device converting second input data representing at least one equity interest in one of the components into second input signals representing the second input data, the second input data including the at least some of the documentation;

a second computer having a second processor, the second processor connected to receive the second input signals, the second processor programmed to change the second input signals to produce modified second signals representing a valuation of an equity interest in one of the components; and

a second output device connected to the second processor to convert the modified second signals into documentation including the valuation of the equity interest in the one of the components.

62. The computer apparatus of claim 61, wherein the equity interest is a fractional interest.

63. The computer apparatus of claim 62, wherein the fraction of the fractional interest is one.

64. The computer apparatus of claim 57, wherein both of the entities are from a group consisting of a pass-through entity for United States federal tax purposes and an entity that is allowed a United States federal tax deduction for distributions to holders of equity interests in the entity.

65. The computer apparatus of claim 64, wherein both of the entities are special purpose entities.

66. The computer apparatus of claim 65, wherein the property is real estate.

67. The computer apparatus of claim 65, wherein the property is tangible personal property.

68. The computer apparatus of claim 65, the apparatus further including:

a second input device to receive at least some of the documentation including at least one of the valuations, the second input device converting second input data representing at least one equity interest in one of the components into second input signals representing the second input data, the second input data including the at least some of the documentation;

a second computer having a second processor, the second processor connected to receive the second input signals, the second processor programmed to change the second input signals to produce modified second signals representing a valuation of an equity interest in one of the components; and

a second output device connected to the second processor to convert the modified second signals into documentation including the valuation of the equity interest in the one of the components.

69. The computer apparatus of claim 68, wherein the equity interest is a fractional interest.

70. The computer apparatus of claim 69, wherein the fraction of the fractional interest is one.

71. The computer apparatus of claim 64, wherein the property is real estate.

72. The computer apparatus of claim 64, wherein the property is tangible personal property.

73. The computer apparatus of claim 64, the apparatus further including:

a second input device to receive at least some of the documentation including at least one of the valuations, the second input device converting second input data representing at least one equity interest in one of the components into second input signals representing the second input data, the second input data including the at least some of the documentation;

a second computer having a second processor, the second processor connected to receive the second input signals, the second processor programmed to change the second input signals to produce modified second signals representing a valuation of an equity interest in one of the components; and

a second output device connected to the second processor to convert the modified second signals into documentation including the valuation of the equity interest in the one of the components.

74. The computer apparatus of claim 73, wherein the equity interest is a fractional interest.

75. The computer apparatus of claim 74, wherein the fraction of the fractional interest is one.

76. The computer apparatus of claim 57, wherein the property is real estate.

77. The computer apparatus of claim 57, wherein the property is tangible personal property.

78. The computer apparatus of claim 57, the apparatus further including:

a second input device to receive at least some of the documentation including at least one of the valuations, the second input device converting second input data representing at least one equity interest in one of the components into second input signals representing the second input data, the second input data including the at least some of the documentation;

a second computer having a second processor, the second processor connected to receive the second input signals, the second processor programmed to change the second input signals to produce modified second signals representing a valuation of an equity interest in one of the components; and

a second output device connected to the second processor to convert the modified second signals into documentation including the valuation of the equity interest in the one of the components.

79. The computer apparatus of claim 78, wherein the equity interest is a fractional interest.

80. The computer apparatus of claim 79, wherein the fraction of the fractional interest is one.

81. The computer apparatus of claim 38, wherein the property is real estate.

82. The computer apparatus of claim 38, wherein the property is tangible personal property.

83. The computer apparatus of claim 38, the apparatus further including:

a second input device to receive at least some of the documentation including at least one of the valuations, the second input device converting second input data representing at least one equity interest in one of the components into second input signals representing the second input data, the second input data including the at least some of the documentation;

a second computer having a second processor, the second processor connected to receive the second input signals, the second processor programmed to change the second input signals to produce modified second signals representing a valuation of an equity interest in one of the components; and

a second output device connected to the second processor to convert the modified second signals into documentation including the valuation of the equity interest in the one of the components.

84. The computer apparatus of claim 83, wherein the equity interest is a fractional interest.

85. The computer apparatus of claim 84, wherein the fraction of the fractional interest is one.

86. The computer apparatus of claim 1, wherein at least one of the valuations reflects that there is an entity for at least of the components, the entity from a group consisting of a trust and a limited partnership.

87. The computer apparatus of claim 86, wherein the entity is a grantor trust.

88. The computer apparatus of claim 87, wherein the property is real estate.

89. The computer apparatus of claim 87, wherein the property is tangible personal property.

90. The computer apparatus of claim 87, the apparatus further including:

a second input device to receive at least some of the documentation including at least one of the valuations, the second input device converting second input data representing at least one equity interest in one of the components into second input signals representing the second input data, the second input data including the at least some of the documentation;

a second computer having a second processor, the second processor connected to receive the second input signals, the second processor programmed to change the second input signals to produce modified second signals representing a valuation of an equity interest in one of the components; and

a second output device connected to the second processor to convert the modified second signals into documentation including the valuation of the equity interest in the one of the components.

91. The computer apparatus of claim 90, wherein the equity interest is a fractional interest.

92. The computer apparatus of claim 91, wherein the fraction of the fractional interest is one.

93. The computer apparatus of claim 86, wherein at least one of the valuations reflects that there is a second entity for a second of the components, and wherein the second entity is from a group consisting of a trust and a limited partnership.

94. The computer apparatus of claim 93, wherein both of the entities are grantor trusts.

95. The computer apparatus of claim 94, the apparatus further including:

a second input device to receive at least some of the documentation including at least one of the valuations, the second input device converting second input data representing at least one equity interest in one of the components into second input signals representing the second input data, the second input data including the at least some of the documentation;

a second computer having a second processor, the second processor connected to receive the second input signals, the second processor programmed to change the second input signals to produce modified second signals representing a valuation of an equity interest in one of the components; and

a second output device connected to the second processor to convert the modified second signals into documentation including the valuation of the equity interest in the one of the components.

96. The computer apparatus of claim 95, wherein the equity interest is a fractional interest.

97. The computer apparatus of claim 96, wherein the fraction of the fractional interest is one.

98. The computer apparatus of claim 93, the apparatus further including:

a second input device to receive at least some of the documentation including at least one of the valuations, the second input device converting second input data representing at least one equity interest in one of the components into second input signals representing the second input data, the second input data including the at least some of the documentation;

a second computer having a second processor, the second processor connected to receive the second input signals, the second processor programmed to change the second input signals to produce modified second signals representing a valuation of an equity interest in one of the components; and

a second output device connected to the second processor to convert the modified second signals into documentation including the valuation of the equity interest in the one of the components.

99. The computer apparatus of claim 98, wherein the equity interest is a fractional interest.

100. The computer apparatus of claim 99, wherein the fraction of the fractional interest is one.

101. The computer apparatus of claim 86, wherein the property is real estate.

102. The computer apparatus of claim 86, wherein the property is tangible personal property.

103. The computer apparatus of claim 86, the apparatus further including:

a second input device to receive at least some of the documentation including at least one of the valuations, the second input device converting second input data representing at least one equity interest in one of the components into second input signals representing the second input data, the second input data including the at least some of the documentation;

a second computer having a second processor, the second processor connected to receive the second input signals, the second processor programmed to change the second input signals to produce modified second signals representing a valuation of an equity interest in one of the components; and

a second output device connected to the second processor to convert the modified second signals into documentation including the valuation of the equity interest in the one of the components.

104. The computer apparatus of claim 103, wherein the equity interest is a fractional interest.

105. The computer apparatus of claim 104, wherein the fraction of the fractional interest is one.

106. The computer apparatus of claim 1, wherein the property is real estate.

107. The computer apparatus of claim 1, wherein the property is tangible personal property.

108. The computer apparatus of claim 1, the apparatus further including:

a second input device to receive at least some of the documentation including at least one of the valuations, the second input device converting second input data representing at least one equity interest in one of the components into second input signals representing the second input data, the second input data including the at least some of the documentation;

a second computer having a second processor, the second processor connected to receive the second input signals, the second processor programmed to change the second input signals to produce modified second signals representing a valuation of an equity interest in one of the components; and

a second output device connected to the second processor to convert the modified second signals into documentation including the valuation of the equity interest in the one of the components.

109. The computer apparatus of claim 108, wherein the equity interest is a fractional interest.

110. The computer apparatus of claim 109, wherein the fraction of the fractional interest is one.

150. A method of producing tax documentation by using the apparatus of claim 1, the method including the steps of:

converting, at an input device, input data representing property into input signals representing the input data;

communicating the input signals to a computer;

computing, with said computer, to process the signals to generate the documentation, including valuation of a tax, on at least one of said components temporally decomposed from the property, the temporally decomposed components including an estate for years interest and a remainder interest, wherein there is a special purpose entity for the estate for years interest and a second special purpose entity for the remainder interest, and wherein the special purpose entities are from a group consisting of a pass-through entity for United States federal tax purposes and an entity that is allowed a United States federal tax deduction for distributions to holders of equity interests in the entity; and

producing the documentation including the tax at an output device connected to the computer.

151. The method of claim 150, wherein the step of computing is carried out with the special purpose entities as grantor trusts.

152. A method of producing documentation including a valuation of an insurance premium by using the apparatus of claim 1, the method including the steps of:

converting, at an input device, input data representing property into input signals representing the input data;

communicating the input signals to a computer;

computing, with said computer, to process the signals to generate the documentation including valuation of the insurance premium for insurance on at least one of said components temporally decomposed from the property, the temporally decomposed components including an estate for years interest and a remainder interest, wherein there is a special purpose entity for the estate for years interest and a second special purpose entity for the remainder interest, and wherein the special purpose entities are from a group consisting of a pass-through entity for United States federal tax purposes and an entity that is allowed a United States federal tax deduction for distributions to holders of equity interests in the entity; and

producing the documentation including the insurance premium at an output device connected to the computer.

153. The method of claim 152, wherein the step of computing is carried out with the special purpose entities as grantor trusts.

111. A computer apparatus valuing a component temporally decomposed from property, the computer apparatus including:

an input device converting input data representing the property into input signals representing the input data;

a computer having a processor, the processor connected to receive the input signals, the processor programmed to change the input signals to produce modified signals representing a market-based valuation of one of at least two components temporally decomposed from the property, the components including an estate for years interest and a remainder interest; and

an output device connected to the processor converting the modified signals into an illustration including the valuation of the one component, wherein the at least two components are limited liability components.

112. The computer apparatus of claim 111, wherein:

the valuation for the one of the components reflects that there is a respective entity for the at least two components, wherein at least one equity interest in each said respective entity is a limited liability interest.

113. The computer apparatus of claim 112, wherein each said respective entity is a special purpose entity.

114. The computer apparatus of claim 112, wherein each said respective entity is from a group consisting of a pass-through entity for United States federal tax purposes and an entity that is allowed a United States federal tax deduction for distributions to holders of equity interests in the entity.

115. The computer apparatus of claim 114, wherein each said respective entity is a special purpose entity.

116. The computer apparatus of claim 112, wherein each said respective entity is from a group consisting of a trust and a limited partnership.

117. The computer apparatus of claim 116, wherein each said respective entity is a grantor trust.

118. The computer apparatus of claim 111, the apparatus further including:

a second input device to receive at least some of the documentation including at least one of the valuations, the second input device converting second input data representing at least one equity interest in one of the components into second input signals representing the second input data, the second input data including the at least some of the documentation;

a second computer having a second processor, the second processor connected to receive the second input signals, the second processor programmed to change the second input signals to produce modified second signals representing a valuation of an equity interest in one of the components; and

a second output device connected to the second processor to convert the modified second signals into documentation including the valuation of the equity interest in the one of the components.

119. The computer apparatus of claim 118, wherein the equity interest is a fractional interest.

120. The computer apparatus of claim 119, wherein the fraction of the fractional interest is one.

121. A computer apparatus valuing a fractional interest in a component temporally decomposed from property, the computer apparatus including:

an input device converting input data representing the property into input signals representing the input data;

a computer having a processor, the processor connected to receive the input signals, the processor programmed to change the input signals to produce modified signals representing a market-based valuation of a fractional interest in one of at least two components temporally decomposed from the property, the components including an estate for years interest and a remainder interest, wherein the estate for years interest includes an equity interest in the property; and

an output device connected to the processor converting the modified signals into an illustration including the valuation of the fractional interest.

122. The computer apparatus of claim 121, wherein the components are limited liability components.

123. The computer apparatus of claim 121 wherein:

the valuation of the fractional interest reflects that there is a respective entity for each of the at least two components, wherein at least one equity interest in each of the entities is a limited liability interest.

124. The computer apparatus of claim 123, wherein each said respective entity is a special purpose entity.

125. The computer apparatus of claim 123, wherein each said respective entity is from a group consisting of a pass-through entity for United States federal tax purposes and an entity that is allowed a United States federal tax deduction for distributions to holders of equity interests in the entity.

126. The computer apparatus of claim 125, wherein each said respective entity is a special purpose entity.

127. The computer apparatus of claim 123, wherein each said respective entity is from a group consisting of a trust and a limited partnership.

128. The computer apparatus of claim 127, wherein each said respective entity is a grantor trust.

129. A computer apparatus valuing an equity interest in a component temporally decomposed from property, the computer apparatus including:

an input device converting input data representing the property into input signals representing the input data;

a computer having a processor, the processor connected to receive the input signals, the processor programmed to change the input signals to produce modified signals representing a market-based valuation of the equity interest in one of at least two components temporally decomposed from real estate as the property, the components including an estate for years interest and a remainder interest, the valuation reflecting that there is a deed to the estate for years interest and a second deed to the remainder interest; and

an output device connected to the processor converting the modified signals into an illustration including the valuation of the equity interest.

130. The computer apparatus of claim 129, wherein the equity interest is a fractional interest.

131. The computer apparatus of claim 129, wherein the equity interest includes all equity interest in the one of the components.

132. A computer apparatus valuing an equity interest in a component temporally decomposed from property, the computer apparatus including:

an input device converting input data representing the property into input signals representing the input data;

a computer having a processor, the processor connected to receive the input signals, the processor programmed to change the input signals to produce modified signals representing a market-based valuation of the equity interest in one of at least two components temporally decomposed from tangible personal property as the property, the components including an estate for years interest and a remainder interest; and

an output device electrically connected to the processor and converting the modified digital electrical signals into an illustration including the valuation of the equity interest.

133. The computer apparatus of claim 132, wherein the equity interest is a fractional interest.

134. The computer apparatus of claim 132, wherein the equity interest includes all equity interest in the one of the components.

135. The computer apparatus of claim 132, wherein the valuation reflects that there is a title to the estate for years interest and a second title to the remainder interest.

136. The computer apparatus of claim 135, wherein the equity interest is a fractional interest.

137. The computer apparatus of claim 135, wherein the equity interest includes all equity interest in the one of the components.

138. A computer apparatus valuing an equity interest in a component temporally decomposed from property, the computer apparatus including:

an input device converting input data representing property into input signals representing the input data;

a computer having a processor, the processor connected to receive the input signals, the processor programmed to change the input signals to produce modified signals representing a market-based valuation, including taxation, of the equity interest in one of at least two components temporally decomposed from property, the property from a group consisting of a tax-exempt security and a portfolio of tax-exempt securities, the components including an estate for years interest and a remainder interest; and

an output device connected to the processor converting the modified signals into an illustration including the valuation of the equity interest.

139. The computer apparatus of claim 138, wherein the equity interest is a fractional interest.

140. The computer apparatus of claim 138, wherein the equity interest includes all equity interest in the one of the components.

141. A computer apparatus valuing an equity interest in a component temporally decomposed from property, the computer apparatus including:

an input device converting input data representing the property into input signals representing the input data;

a computer having a processor, the processor connected to receive the input signals, the processor programmed to change the input signals to produce modified signals representing a market-based valuation of the equity interest in one of at least two components temporally decomposed from property, the property from a group consisting of a taxable fixed-income security, a portfolio of taxable fixed-income securities, a portfolio of taxable and tax-exempt fixed-income securities, an asset that is ratable as if it were a fixed-income security, and a portfolio of assets that is ratable as if it were a fixed-income security, the components including a term interest and a remainder interest; and

an output device electrically connected to the processor converting the modified signals into an illustration including the valuation of the equity interest.

142. The computer apparatus of claim 141, wherein the equity interest is a fractional interest.

143. The computer apparatus of claim 141, wherein the equity interest includes all equity interest in the one of the components.

144. A computer apparatus valuing an equity interest in a component temporally decomposed from property, the computer apparatus including:

an input device for converting input data representing the property into input signals representing the input data;

a computer having a processor, the processor connected to receive the input signals, the processor programmed to change the input signals to produce modified signals representing a market-based valuation of the equity interest in one of at least two components temporally decomposed from property not including any securities, the components including an estate for years interest and a remainder interest; and

an output device electrically connected to the processor to converting the modified signals into an illustration including the valuation of the equity interest.

145. The computer apparatus of claim 144, wherein the equity interest is a fractional interest.

146. The computer apparatus of claim 145, wherein the equity interest includes all equity interest in the one of the components.

147. The computer apparatus of claim 144, wherein the valuation reflects that there is a title to the estate for years interest and a second title to the remainder interest.

148. The computer apparatus of claim 147, wherein the equity interest is a fractional interest.

149. The computer apparatus of claim 147, wherein the equity interest includes all equity interest in the one of the components.

154. A method of producing wrap insurance and documentation for an equity interest in one of at least two components temporally decomposed from property, the method including the steps of:

entering input information at an input device converting the information into input signals for receipt by a computer;

providing the wrap insurance for the equity interest in the component;

controlling the computer with a program to process the input signals to generate the wrap insurance documentation for the equity interest in the component, the temporally decomposed components including an estate for years interest and a remainder interest, wherein there is a special purpose entity for the estate for years interest and a second special purpose entity for the remainder interest, and wherein the special purpose entities are from a group consisting of a pass-through entity for United States federal tax purposes and an entity that is allowed a. United States federal tax deduction for distributions to holders of equity interests in the entity; and

producing the wrap insurance documentation at an output device connected to the computer.

155. The method of claim 154, wherein the step of providing is carried out with the wrap insurance including credit wrap insurance, and wherein the step of controlling is carried out with the wrap insurance documentation including credit enhancing wrap insurance documentation.

156. The method of claim 155, wherein the step of controlling is carried out with the special purpose entities as grantor trusts.

157. The method of claim 154, wherein the step of controlling is carried out with the special purpose entities as grantor trusts.

158. A method of producing tax documentation for an equity interest in one of at least two components temporally decomposed from property, the method including the steps of:

entering input information at an input device for converting the information into input signals for receipt by a computer;

controlling the computer with a program to process the input signals to generate the documentation including a tax on the equity interest in the component, the temporally decomposed components including an estate for years interest and a remainder interest, wherein there is a special purpose entity for the estate for years interest and a second special purpose entity for the remainder interest, and wherein the special purpose entities are from a group consisting of a pass-through entity for United States federal tax purposes and an entity that is allowed a United States federal tax deduction for distributions to holders of equity interests in the entity; and

producing the documentation including the tax at an output device connected to the computer.

159. The method of claim 158, wherein the step of controlling is carried out with the special purpose entities as grantor trusts.

160. A method of producing wrap insurance and documentation for an equity interest in one of at least two components temporally decomposed from property, the method including the steps of:

entering input information at an input device for converting the information into input signals for receipt by a computer;

providing the wrap insurance for the equity interest in the component;

controlling the computer with a program to process the input signals to generate the wrap insurance documentation for the equity interest in the component temporally decomposed from the property, the property not including any securities, the temporally decomposed components including an estate for years interest and a remainder interest, wherein there is a special purpose entity for at least one component, the at least one component including the estate for years interest, wherein the special purpose entity is from a group consisting of a pass-through entity for United States federal tax purposes and an entity that is allowed a United States federal tax deduction for distributions to holders of equity interests in the entity; and

producing the wrap insurance documentation at an output device connected to the computer.

161. The method of claim 160, wherein the step of providing is carried out with the wrap insurance including credit enhancing wrap insurance, and wherein the step of controlling is carried out with the wrap insurance documentation including credit enhancing wrap insurance documentation.

162. The method of claim 161, wherein the step of controlling is carried out with the property not consisting of real estate.

163. The method of claim 162, wherein the step of controlling is carried out with a grantor trust as the special purpose entity.

164. The method of claim 161, wherein the step of controlling is carried out with the property not including any real estate.

165. The method of claim 164, wherein the step of controlling is carried out with a grantor trust as the special purpose entity.

166. The method of claim 161, wherein the step of controlling is carried out with tangible personal property as the property.

167. The method of claim 166, wherein the step of controlling is carried out with a grantor trust as the special purpose entity.

168. The method of claim 161, wherein the step of controlling is carried out with real estate as the property.

169. The method of claim 168, wherein the step of controlling is carried out with a grantor trust as the special purpose entity.

170. The method of claim 161, wherein the step of controlling is carried out with the property including real estate.

171. The method of claim 170, wherein the step of controlling is carried out with a grantor trust as the special purpose entity.

172. The method of claim 161, wherein the step of controlling is carried out with a grantor trust as the special purpose entity.

173. The method of claim 160, wherein the step of controlling is carried out with the property not consisting of real estate.

174. The method of claim 173, wherein the step of controlling is carried out with a grantor trust as the special purpose entity.

175. The method of claim 160, wherein the step of controlling is carried out with the property not including any real estate.

176. The method of claim 175, wherein the step of controlling is carried out with a grantor trust as the special purpose entity.

177. The method of claim 160, wherein the step of controlling is carried out with tangible personal property as the property.

178. The method of claim 177, wherein the step of controlling is carried out with a grantor trust as the special purpose entity.

179. The method of claim 160, wherein the step of controlling is carried out with real estate as the property.

180. The method of claim 179, wherein the step of controlling is carried out with a grantor trust as the special purpose entity.

181. The method of claim 160, wherein the step of controlling is carried out with the property including real estate.

182. The method of claim 181, wherein the step of controlling is carried out with a grantor trust as the special purpose entity.

183. The method of claim 160, wherein the step of controlling is carried out with a grantor trust as the special purpose entity.

184. A method of producing tax documentation for an equity interest in one of at least two components temporally decomposed from property, the method including the steps of:

entering input information at an input device for converting the information into input signals for receipt by a computer;

controlling the computer with a program to process the input signals to generate the documentation including a tax on the equity interest in the one of at least two components temporally decomposed from tangible personal property as the property, the at least two components including an estate for years interest and a remainder interest, wherein there is a special purpose entity for the one component, and wherein the special purpose entity is from a group consisting of a pass-through entity for United States federal tax purposes and an entity that is allowed a United States federal tax deduction for distributions to holders of equity interests in the entity; and

producing the documentation including the tax at an output device connected to the computer.

185. The method of claim 184, wherein the step of controlling is carried out with a grantor trust as the special purpose entity.