Hello
Welcome to the ninth issue of Valuation and Litigation Insights! My goal is to bring you hand-picked content related to all things valuation and litigation that will make your life easier and help your clients get the results they deserve.
I hope you all enjoyed the recent Memorial Day holiday. My wife and I used points I accumulated over many years to stay at the Ritz-Carlton in Santa Barbara for a night with our 3 and 6 year old boys. It was pretty fun, though we might camp next time.
Last issue we touched on what can cause valuation opinions to vary drastically. The Michael Jackson estate tax case is the poster child for this situation. The article below demonstrates how different interpretation of the words “known or knowable” can result in a huge difference in valuation conclusions.
We may be tired of COVID, but it is not quite done with us. We share a podcast that discusses how valuation experts have dealt with virtual testimony among other things in the post-COVID world.
And as more and more people are working and communicating virtually, visual models have become more important than ever in all walks of life. The linked article shows how visual communication can make or break a case, with suggestions on how to punch up your expert’s delivery to increase chances of courtroom success.
Since we can learn from others’ mistakes, we also review 16 examples of valuation expert errors to be aware of and to avoid.
Finally, while disputes often arise over valuation techniques, often the real money in a dispute or transaction is how earnings are calculated. We examine 10 common earnings adjustments you should know about.
Hope you enjoy this issue and find it useful!
Valuation and Litigation Insights
News and Trends
Tax Court Decides Michael Jackson’s Estate Case
Last issue we talked about how valuation opinions can be far apart. Nothing epitomizes this quite so drastically as the valuations performed regarding the Michael Jackson estate. See how the term "known or knowable" was crucial in the Tax Court's decision.
gyf.com
Things to Know
16 Mistakes to Avoid in Valuations: According to Tax Court Decisions - Mercer Capital
In Tax Court, sometimes you win and sometimes you learn. This article lists 16 examples where appraisers missed the mark -- and provides a checklist of things for appraisers and attorneys to consider to maximize the chances of success.
mercercapital.com
Key EBITDA Adjustments to Know
As important as valuation techniques may be, cases and transactions can turn on the measurement of earnings. This article illustrates 10 common adjustments made to get at the true earnings of a business.
divestopedia.com
Tools and Tips
How Has Expert Witness Work Changed Since COVID? -- YouTube
Valuation expert work, and in particular testimony, has experienced significant changes since the pandemic. In this podcast, a valuation and litigation expert shares his experiences in the new virtual setting.
youtube.com
Importance of Graphics in Commercial Litigation
Graphics are a key aspect of any litigation, especially with complex matters. This article shows how artful use of visuals can mean the difference between alienating jurors or rallying them to your cause.
natlawreview.com
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.
Talk to you soon!
Will
Will Thomsen
Director of Valuation and Litigation Services
Grobstein Teeple, LLP
www.gtllp.com
Call me at 818-502-4950
Email me at wthomsen@gtllp.com
Valuation and Litigation Insights