Intra-Family Loan Valuation IssuesBy: Aaron M. Stumpf and Jesse A. UltzWith the looming threat of Congress passing legislation that would curtail the application of valuation discounts for minority interests in family-controlled entities, estate planners are exploring other techniques to accomplish their objectives....
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Warning! The Service Believes S Corporations are UndervaluedBy: Daniel R. Van Vleet The 1999 decision of Gross v. Commissioner ("Gross") fundamentally changed the manner in which valuation experts and the Tax Court treat valuations of S corporations. FN1. In this decision,...
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The Reasonableness of Owners' CompensationAn Often Overlooked But Key Assumption in Valuing a BusinessBy: Jesse A. Ultz, CFAMany business owners are motivated to deviate from an arm's-length compensation level for owners in order to minimize taxes paid either at the...
How to Review a Commercial Real Estate Appraisal Report: How Can an Attorney Ascertain the Merit of An Appraisal?Christopher P. Casey: Before even discussing the appraisal report, perhaps we should address the merit of the appraiser performing the work?...
Recent Developments in Asset Protection Law - August 2011By: Jay AdkissonALTER EGOMisik: California Rule 187 Motion to Amend On Alter Ego Grounds Works Against Owner Of Single-Member LLC Even In Absence Of Actual FraudMisik v. D'Arco, ___ Cal.Rptr.3d ____, 2011...
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The Art of DiversificationBy: Andy Reynolds, MBA of Boardman Wealth Planning, Inc.History of Modern Portfolio Theory"The basic concepts of portfolio theory came to me one afternoon in the library while reading John Burr Williams's Theory of Investment Value. Williams...
Interview withSteven J. Oshins, Esq. onNevada Restricted LLC/LP Phil Kavesh, of the Ultimate Estate Planner, on behalf of The Wealth Strategies Journal, interviewed Steve J. Oshins, Esq., re Nevada Restricted LLCs and LPs.Steven J. Oshins, Esq. is a nationally renowned...
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A New Perspective on Employee Stock Ownership PlansUsing ESOPs for inter-generational estate plansBy George G. Cassiere, ASA, CFA &Brian A. Eagle, J.D.IntroductionThe authors of this article have collectively implemented over 200 Employee Stock Ownership Plan ("ESOP") transactions and hundreds of...
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DCF Valuation Scuttled by Unsound Underlying ProjectionBy: Hempstead & Co., Inc.A new Delaware case illustrates again that the Discounted Cash Flow approach seems to be the favored valuation method in the Delaware courts. It also shows, however, that for...
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In Estate of Adler, Section 2036 Trumps Fractional Interest DiscountsBy: Ori Bash, ASA of Pluris Valuation AdvisorsIn Adler v. Comm'r, TC Memo 2011-28, the IRS prevailed in a Section 2036 attack, and eliminated fractional interest discounts applied to an estate...
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