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The Matrimonial StrategistLJN NewslettersNewsSections

Marital Interests in S-Corporations May Have Differing Value

By Robert E. Schlegel and Bret Brewer
August 31, 2004

Matrimonial attorneys need to be aware that a shift in prevailing winds is occurring within the business appraisal profession concerning valuation of interests in “pass-through entities” (PTEs) such as S-Corporations and various forms of limited liability entities. Calculation of the fair market value of a closely held marital business interest could vary by as much as 67% if income taxes are considered or not considered under various methods. While the choice of methods and procedural analysis is the domain of your appraisal expert, knowledge of valuation alternatives will help you ensure that an appropriate analysis for your client is performed, and will assist you in impugning a less alert opposing expert during cross-examination. Be careful, however, because these “new analytics” are fact-sensitive and not universally applied (or misapplied) by business appraisers.

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