In utilizing a cutoff date for a retrospective value, would the date of death be most appropriate to use? And if so, would the associated pro forma period be the 12 months preceding the date of death or could it extend past this date? My quandary is that the date of death is November 11, 2011. Two spaces in this commercial building were vacant for the year preceding the date of death and actively marketed. They were leased just prior to or shortly after the date of death and this impacts the value of the subject via the Incoma Approach. Typically, I apply market rent to vacant spaces and then deduct for rent loss, leasing fees, concessions and other absorption costs (based on market data). In this case, I know leases were signed for these spaces towards the end of my pro forma period, so actually rent loss was nearly 12 months. However, market data earlier that year indicated a 6 month absorption period. Appreciate any comments on retrospective cutoff dates – Especially when they are close to current dates. And, can a pro forma period extend past the Retrospective Date of Value?