Fair market value is defined by Revenue Ruling 59-60.
When it comes to valuing and dividing businesses in divorce cases, Revenue Ruling 59-60 provides a list of eight key items that should be considered in a business valuation including the nature of the business and the history of the enterprise from its inception, the economic outlook in general and the condition and outlook of the specific industry, and the book value of the stock and the financial condition of the business, to name a few of the items on the list. This white paper reviews the remaining items on the list and provides more detail on Revenue Ruling 59-60.
Jeffrey W. Brend
Levin & Brend, P.C.
- Partner in the office of Levin & Brend, P.C.
- Practice emphasizes all aspects of Business Valuation, Forensic Accounting, Mediation
- Conducts regular seminars and workshops on numerous Business Valuation, Forensic Accounting, and Tax topics
- Author of several publications related to the areas of Business Valuation and Forensic Account-ing
- Education J.D. Degree, John Marshall Law School
- Membership information: JD, CPA/ABV, ASA, CFE, CFF, AAML, CDFA is a Principal of the nationally recognized family law, mediation, forensic accounting and business valuation practice Levin & Brend; P.C. in Chicago, Illinois; Past President of the American Academy of Matrimonial Lawyers (AAML), Illinois Chapter and co-chair of the AAML’s National Mediation Committee
- Featured in Fortune Magazine, Newsweek and on the Sky Radio Network as one of America’s Premier Lawyers; Only person in the country who is a fellow of the American Academy of Matrimonial Lawyers; Senior Appraiser with the American Society of Appraisers; Accredited Business Valuator with AICPA and a Certified Fraud Examiner; Named a LexisNexis Martindale-Hubbell AV-rated attorney and a 2007 – 2020 Illinois Super Lawyer as well as a Top-10 collaborative attorney in Illinois
- He has spoken nationally to the Association of Fraud Examiners, the Federal Bureau of Investigation, AAML and the American Society of Appraisers
- Certified Public Accountant who is qualified as a financial expert to value businesses, determine net income and complete financial investigations
- He has written numerous articles about business valuation, forensic accounting and child custody issues along with the textbook Accounting for Divorce
- Fellow of the Collaborative Law Institute of Illinois and a member of the International Academy of Collaborative Professionals and is exceptionally qualified to encourage the collaborative process from a multidisciplinary perspective
- Can be contacted at [email protected] or 312-726-4440
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