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OnDemand Course

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.

88 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 37 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 37 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

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Maine, New Hampshire, 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 July 27, 2021.

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.
     
  • 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.
     
  • NV CLE 1.0
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.0 CLE hours.
     
  • 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.
     

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.

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

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Why Lorman?

Over 37 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

Thomas E. Pastore, ASA, CFA

Thomas E. Pastore, ASA, CFA

Sanli Pastore & Hill, Inc.

  • Chief Executive Officer/Co-Founder of Sanli Pastore & Hill, Inc.
  • 4,000 valuations over 30+ years
  • Valuation expert witness; 70 trials/200 depositions; specialty in federal court testimony throughout U.S.
  • Diverse industry experience; biotech, energy – renewable/ traditional, financial institutions, and aerospace – commercial & defense
  • Written on topics including renewal green energy projects and mobile app millennial purchasing patterns
  • Active instructor in continuing education classes on advanced topics of business valuation, taxation, and economic damages
  • M.B.A. degree, University of Michigan; B.B.A. degree with a major in accounting, Bryant University
  • Can be contacted at 310-571-3400/Los Angeles and 630-457-9200/Chicago or [email protected]
Forrest Vickery, ASA

Forrest Vickery, ASA

Sanli Pastore & Hill, Inc.

  • Managing Director of Northern California operations of Sanli Pastore & Hill, Inc.
  • Over 2,500 valuations since 1995
  • Expert witness testimony in 30 trials/arbitrations and 60 depositions
  • Business valuations and special situation financial opinions work for private companies, high-net-worth families, and real estate holding companies
  • Regularly performs business valuations and forensic financial analyses for estate and gift tax reporting, family and business succession and transition planning, shareholder disputes, corporate/partnership dissolution, and intangible asset valuation
  • Regular presenter on business valuation to bar associations, CPA societies, professional organizations, and business groups
  • Accredited Senior Appraiser (ASA) – Business Valuation Discipline
  • B.A. degree in honors economics, University of California, Irvine
  • Can be contacted at 916-614-0530 or [email protected]
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Why Lorman?

Over 37 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.

All of your training, right here at Lorman

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • OnDemand Courses
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  • Course Manuals
  • Executive Reports
  • White Papers and Articles

Additional benefits include:

  • State Specific Credit Tracker
  • All-Access Pass Course Concierge

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 408858
Published 2021
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