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Family Matters: Standard of Value, DLOM/DLOC Discounts and Drama in BV

A buried body, sex surrogates, and family-owned business create a dramatic background for a recent court case impacting valuation. With complex minority discounts, this case kicks off a compelling discussion of key issues in family law. Experts Stacey Udell, Neil Beaton, and Ron Seigneur tackle these thorny issues with clarity and comedy. Get treated to the tricks and tips you’ll want when your next family-owned business engagement rings your doorbell.

Boesch v. Holeman

In dispute over value of dissociated partner’s one-third interest in whiskey business, appeals court says trial court erred in adopting value determination that applied discount for lack of control; applicable partnership law requires value be based on sale of entire business as a going concern.

Partnership Statute Precludes Use of Minority Discount in Buying Out Dissociated Partner

In dispute over value of dissociated partner’s one-third interest in whiskey business, appeals court says trial court erred in adopting value determination that applied discount for lack of control; applicable partnership law requires value be based on sale of entire business as a going concern.

Reconciling FMV with Investment Value: What’s Up with the Proposed Redefinition of FMV by Healthcare Regulators?

In October, the Centers for Medicare and Medicaid Services (CMS) released its newly proposed updates to the Stark regulations that included an overhaul of the definition of fair market value (FMV) for regulatory compliance purposes. Surprisingly, CMS pointed to a whole new framework for FMV and valuation practice in general. To help practitioners prepare for the new paradigm, Tim Smith will do a deep dive into the proposed redefinition of FMV and how CMS now ...

Split high court rules on classification of earnout payment in divorce dispute

The parties’ dispute over how to classify earnout payments related to the sale of a valuable marital asset recently prompted a split ruling from the Minnesota Supreme Court. The issue was whether those payments were part of the sales consideration, as the wife argued, or represented future compensation to the husband, as the district court found.

Contentious ruling from Minnesota high court on dealing with earnout payments in divorce

In an important ruling, a divided Minnesota Supreme Court recently ruled on whether earnout payments related to the sale of the husband’s interest in a lucrative company were a marital asset.

Divided High Court Says Earn-Out Payments From Company Sale Are a Marital Asset

Earn-out payments related to sale of a marital asset were marital asset and subject to equitable distribution, Supreme Court’s majority says, even though value of the payments was uncertain as of the valuation date and the sale of the husband’s company took place after the valuation date.

Gill v. Gill

Earn-out payments related to sale of a marital asset were marital asset and subject to equitable distribution, Supreme Court’s majority says, even though value of the payments was uncertain as of the valuation date and the sale of the husband’s company took place after the valuation date.

‘Lady Liberty’ Stamp Costs USPS Millions in Copyright Infringement

Court finds USPS’s unauthorized use of image of Las Vegas Lady Liberty on stamps infringed creator’s copyright and awards damages resulting from a hypothetical mixed license; USPS’s unique licensing history does not limit damages under applicable fair market value measure of damages.

Davidson v. United States

Court finds USPS’s unauthorized use of image of Las Vegas Lady Liberty on stamps infringed creator’s copyright and awards damages resulting from a hypothetical mixed license; USPS’s unique licensing history does not limit damages under applicable fair market value measure of damages.

Value Determination Accords With Parties’ Contract, Chancery Says

Court says valuation firm’s determination of value of defendants’ put units accords with agreement to which plaintiff and defendants committed themselves; since contract does not provide for judicial review, court won’t “second-guess” valuator’s judgment.

PECO Logistics, LLC v. Walnut Inv. Partners, L.P.

Court says valuation firm’s determination of value of defendants’ put units accords with agreement to which plaintiff and defendants committed themselves; since contract does not provide for judicial review, court won’t “second-guess” valuator’s judgment.

"Highly troubled" by Estate of Adams

I am highly troubled by several recent circumstances. You are familiar with Gross (BV Update has discussed it at length). It is clear to anyone with a modicum of financial background that ...

Poorly researched valuation results in nominal value finding by court

Wife challenged the property division in a dissolution of marriage decree, arguing that the court erred in valuing the husband's interest in a family business at zero.

In re the Marriage of Peters

Wife argued that the court erred in valuing the husband's interest in a family business at zero.

English v. Artromick

At issue is the valuation of appellant's minority stock interest in appellee, Atromick International, Inc.

Ohio 'Fair Cash Value' Far Different From 'Fair Value' Elsewhere

This is an appeal of the trial court's determination of the "fair cash value" of plaintiff Thomas J. English's 11.43% interest in Artromick International Inc.

6th Circuit Allows Capital Gains Discount

The issue in this estate tax appeal is whether the petitioners were entitled to apply a discount for a built-in capital gains tax liability on real estate in valuing the stock of the corporation owning the real estate.

Offerman v. Offerman

Issue is the value of a closely held corporation which belonged to both husband and wife, and whether unperformed contracts should be considered in value.

Reasonable value of contracts to be included in valuation of corporation

The primary issue in this marital dissolution is the value of a closely held corporation, Mark Made Inc. , which belonged to both husband and wife.

Section 1033 Election Does Not Prohibit Built-In Capital Gains Tax Deduction

The U.S. Court of Appeals for the Sixth Circuit reversed the Tax Court's decision denying the estate a deduction for built-in capital gains taxes embedded in four parcels for real property held by two closely held corporations. The parcels were under the ...

Estate of Welch v. Commissioner (II)

At issue is whether the estate had the right to discount the value of corporate stock to reflect a built-in capital gains tax liability on corporate real estate.

6th Circuit Estate Tax Appeal Allows Capital Gains Discount

The issue in this estate tax appeal is whether the petitioners were entitled to apply a discount for a built-in capital gains tax liability on real estate in valuing the stock of the corporation owning the real estate.

Institute of Business Appraisers 20th anniversary conference open with IRS attorney; closes with estate planning attorney

n LITIGATING ISSUES IN THE FAMILY LIMITED PARTNERSHIP ARENA Melanie Urban, Esq. Internal Revenue Service Houston, TX Ms. Urban opened with a declaration that there are two things that the IR ...

Court Utilizes DCF Valuation Method, Decries Failure to Consider Willing Seller

At date of death, decedent owned a 1% general partnership interest and a 23.9650903% limited partnership interest in LKB Associates, a limited partnership organized under the laws of the District of Columbia.

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