Playing the Valuation Game: Family Wealth Planning and Valuation

The term "fair market value" is found in over 100 sections of the Internal Revenue Code, including many income tax provisions and especially in the context of the Federal transfer tax (gift, estate and GST taxes). Tax valuation principles generally follow ownership of property and its transfer.

Learn from Owen Fiore, who has developed valuation strategies with entities and techniques over 40 years of practice in estate planning. This course will build on the uncertainties of valuation determinations and show the CPA and other financial advisors how to use the "valuation game" to benefit your clients. When CPAs, lawyers and other advisors truly understand valuation concepts and their application, good things happen for clients and their families.

Case studies, judicial decisions, appraiser professional analysis and practical planning solutions are core areas in this course. Also, the course materials include selected bibliography of articles, treatises and other information on valuation - including the IRS Appeals Guidelines on FLPs and valuation discounts.

The valuation course is not intended to educate the advisor to be an appraiser; rather, this course is for CPAs and other advisors who wish to be involved as team players in valuation issues and their uses in structuring and implementing effective wealth preservation plans.

Who Should Attend
CPAs, lawyers, financial advisors

Topics Covered

• Key principles of valuation, including the hypothetical party valuation standard for transfer tax purposes
• Valuation methodology and assumptions of value, equally important and required to achieve success
• Key valuation decisions in the courts - and the lessons they can teach advisors
• Valuation strategies with entities, the importance of relevant evidence and how the IRS, Appeals and the courts deal with valuation
• "Discounts" for lack of control, lack of marketability, market absorption, loss of key person
• Examples of successful valuation planning - making the estate tax "voluntary"

Learning Objectives

• To identify and study key valuation principles, case studies judicial decisions on valuation, and how expert appraisers deal with the practical issues in valuation. Further, a key objective is to stimulate the CPA and other advisors to use valuation discounts in financial and estate planning situations.

Level
Intermediate

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (4 hours)

Program Prerequisites
None

Advance Preparation
None