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Estate Planning Appraisal Fundamentals

Learn how assets are valued and how the IRS will consider the assets in order to best advise your clients.

The business is typically the cornerstone of an individual's estate and its value. Knowing the aspects of a valuation and how to review a valuation report is critical for estate planning and filing returns with the IRS. This topic will discuss the various approaches and methods utilized in determining the value of a business, as well as the various drivers of a valuation assignment. The material will focus on how adjustments to the reported financial statements and a careful review of key documents are essential to understanding the value of a privately held company and minority interests therein. Valuation discounts are often a controversial issue in fractional interest valuations and the speakers will prepare you for how these should be assessed and discussed in a report. Examples and illustrations will show you how to apply the concepts discussed so that you can be best prepared when submitting returns and reports to the IRS.

Runtime: 88 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Explanation of the Primary Approaches and Methods Utilized in Determining the Value of Any Business

  • Understand Different Scopes of a Valuation Assignments (Tax Reporting vs. Planning)
  • Identify Main Valuation Drivers
  • How to Review a Valuation Report
  • Determining Appropriate Earnings Adjustments

How to Quantify Appropriate Valuation Discounts

  • Determining a Discount for Lack of Control
  • Determining a Discount for Lack of Marketability
  • Other Discounts to Consider

Unique Issues in Valuing Real Estate Holding Companies

  • Tiered-Entity Considerations
  • Unique Valuation Discounts
  • Key Governing Document Provisions

Preparing a Report That Withstands IRS Audit

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.25
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • UT CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on December 17, 2019.

Call 1-866-352-9540 for further credit information.

  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board, including hour of ethics credit.
     
  • Arizona CLE 1.5
     
  • The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • CO CLE 2.0
     
  • Lorman Education Services is a Certified Provider, as recognized by the Colorado Supreme Court Continuing Legal and Judicial Education Committee. This program is approved for 2.0 credit hours.
     
  • CT CLE 1.0
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
     
  • HI CLE 1.25
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.25 CLE credit hours.
     
  • IL CLE 1.25
     
  • This course was approved for a total of 1.25 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.0
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.0 hours of CLE credit under M. Bar R. 12.
     
  • MN CLE 1.25
     
  • This program has been approved by the Minnesota Board of Continuing Legal Education for 1.25 hours of credit.
     
  • MO CLE 1.8
     
  • This course qualifies for self-study CLE credit in Missouri.
     
  • MT CLE 1.5
     
  • This program has been approved by the Montana Commission of Continuing Legal Education for a total of 1.5 CLE credits.
     
  • NH MCLE 1.5
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 88 Minutes.
     
  • NV CLE 1.5
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
     
  • PA CLE 1.0
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.5
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
     
  • UT CLE 1.5
     
  • This program has been approved by the Utah State Board of Continuing Legal Education for 1.5 CLE hours.
     
  • VA CLE 1.5
     
  • This program has been approved by the Virginia Mandatory Continuing Legal Education Board for 1.5 CLE credit hours.
     
  • VT CLE 1.5
     
  • This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hour(s) of CLE credit. Please note: Attorneys may only claim 6 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of A/V credit under the Law & Legal Procedure category.
     
  • WV MCLE 1.8
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.8 MCLE hours.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

Virginia MCLE requirements do not allow approval for programs that do not include an audio or audiovisual component.

This program was previously offered as a live webinar. Virginia MCLE requirements do not allow approval for attendance at duplicate programs.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Henry Kaskov

Henry Kaskov

Sanli Pastore & Hill, Inc.

  • Managing director of Sanli Pastore & Hill, Inc.
  • Provide business valuations and special-situation financial opinions work for private and public clients throughout the U.S.
  • Regularly performed business valuations and forensic financial analyses for estate and gift tax reporting, family and business succession and transition planning, shareholder and marital disputes, corporate/partnership dissolution, employee stock ownership plans, eminent domain takings, and intellectual property, brand and patent valuation
  • Given numerous presentations on business valuation to bar associations, CPA societies, professional organizations and business groups
  • Written articles related to valuation and is a contributing author in the recently released book titled Reviving the Financially Distressed Business, co-authoring a chapter with Nevin Sanli on Valuation Issues for Distressed Businesses
  • Serve on the boards of several nonprofit organizations
  • B.S. degree in finance, Gies College of Business – University of Illinois Urbana-Champaign
  • Can be contacted at 630-457-9200 or [email protected]
Forrest Vickery

Forrest Vickery

Sanli Pastore & Hill, Inc.

  • Managing director of Sanli Pastore & Hill, Inc.
  • Provide business valuations and special-situation financial opinions work for private and public clients throughout the U.S.
  • Regularly performed business valuations and forensic financial analyses for estate and gift tax reporting, family and business succession and transition planning, shareholder and marital disputes, corporate/partnership dissolution, employee stock ownership plans, eminent domain takings, and intellectual property, brand and patent valuation
  • Given numerous presentations on business valuation to bar associations, CPA societies, professional organizations and business groups
  • Written articles related to valuation
  • B.A. degree in honors economics, University of California, Irvine
  • Serve on the boards of several nonprofit organizations
  • Can be contacted at 916-614-0530 or [email protected]
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More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 401796
Published 2019
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