Hello
Welcome to the fourteenth issue of Valuation and Litigation Insights! We bring you hand-picked content related to business valuation and litigation intended to help you and your clients get better results.
Halloween is here. Our street gets hundreds of trick-or-treaters, so it will be a fun night.
Curious how Halloween got its start? Here’s some info from History.com:
The tradition originated with the ancient Celtic festival of Samhain, when people would light bonfires and wear costumes to ward off ghosts. In the eighth century, Pope Gregory III designated November 1 as a time to honor all saints. Soon, All Saints Day incorporated some of the traditions of Samhain. The evening before was known as All Hallows Eve, and later Halloween. Over time, Halloween evolved into a day of activities like trick-or-treating, carving jack-o-lanterns, festive gatherings, donning costumes and eating treats.
On to this issue.
Calculating economic damages is never a picnic. Add on the complication of figuring out the impact of COVID-19 on a business and you realize how hard it can be to assess damages during the pandemic.
The current reconciliation bill under debate might end up having a major impact on current estate planning vehicles. We explore the implications for valuations and planning.
An agreement without a well-designed buy-sell provision can virtually assure litigation and conflict. We share a podcast that explores some of the issues surrounding buy-sells.
Every witness has faced the dreaded “yes/no” question. The one where “yes” or “no” cannot begin to adequately provide the answer. We share an article that provides 7 ways out of this trap.
Valuations are often required in litigation, but different litigations require different valuations, different standards, and different methods. We share a guide to choosing the valuation that fits the purpose.
Hope you enjoy this issue and find it useful!
Valuation and Litigation Insights
News and Trends
Calculating Business Damages after the Pandemic
Estimating business damages for a dispute is never easy.
And calculating the financial impact of COVID-19 on any company is difficult.
Put them together and you have a double challenge.
This article provides examples of how the COVID-19 pandemic may affect a financial expert’s lost profit damage calculation.
picpa.org
Looming Estate Plan Disruptions
Tick Tock!
Have you checked your clients' estate plans lately?
The $3.5-trilliion reconciliation bill might end up having a major impact on current estate planning vehicles -- negating their tax benefits.
This article provides a good summary of these issues, and why it may make sense to act now to avoid significant tax consequences later.
mercercapital.com
Things to Know
What you Need to Know About Business Valuation for Litigation
Business valuations can be essential to prevailing in a litigation.
But litigation comes in all shapes and sizes.
So what kind of valuation is appropriate for a given dispute? What standards, methods, and so on should be used?
This article provides a useful overview that can help you ask the right questions so you find the right tool for the job.
adamscapital.com
Best Strategies
Everything You Ever Wanted to Know About Buy-Sell Agreements: A Conversation With Paul Hood
Ask any business litigator, and they will tell you: a shareholder, partnership, or LLC agreement that doesn’t include a well-crafted buy-sell provision is simply asking for conflict and litigation. The fireworks go off once the provision is triggered.
Estate planner and buy-sell agreement expert Paul Hood just came out with his new book, "Buy-Sell Agreements: The Last Will & Testament for Your Business." The book is a great resource for lawyers, advisors and business owners.
In this informative podcast, Peter Mahler interviews Paul about his book and some of the issues surrounding buy-sell agreements.
If you have any interest in buy-sells and preventing shareholder litigation, this is a must-listen.
nybusinessdivorce.com
Witnesses: Know Your Seven Ways Out of the ‘Yes or No’ Trap
"Please answer the question. It's just yes or no."
Really? Then why will I feel like a fool or crook however I respond?
Here are 7 ways out of the yes/no trap.
Good to know whether you are a witness, attorney, or anyone else in a similar situation.
persuasivelitigator.com
Announcements
What to Expect from a Professionally-Prepared Valuation Report
You hired a business valuation expert, and now you have the report.
Is it what you expected? Did you get what you think you deserved and paid for?
What should you expect from a professionally-prepared valuation report?
How should it look? What should it contain?
This November, I will host a two-part webinar that will examine this topic.
Each episode will be just 30 minutes long. In. Out. Done. Leave with at least one actionable idea.
Episode #1 – Wednesday, November 10, 2021 – How a Good Report Should Look
Episode #2 – Wednesday, November 17, 2021 – What a Good Report Should Contain
Sign up using the link!
zoom.us
In Closing
That's it for now. If you found this issue of Valuation and Litigation Insights useful, please forward it to a friend or colleague.
And if you have a valuation or damages-related issue you would like to discuss, you can reach me one of the ways below.
Talk to you soon!
Will
William W. Thomsen
Director of Valuation and Litigation Services
Grobstein Teeple, LLP
www.gtllp.com
Call me at 818-502-4950
Valuation and Litigation Insights