The newest issue of Value Matters™, Mercer Capital’s newsletter addressing gift and estate tax, ESOP, buy-sell agreement, and transaction advisory topics of interest to estate planners and other professional advisors to business, has been published.
The focus for this issue is Gift, Estate, and Income Tax Compliance services with the lead article: The Defining Elements of a Valuation Engagement: They Are More Important Than You Think.
In the valuation world, literary success and technical competency are often estranged. However, when the two do meet in the same document, the valuation report is readable, understandable, the analytics are replicable, and the reader recognizes the subject company or interest.
It all begins with understanding and explaining the defining elements of the valuation engagement correctly, which is a step in the valuation process that cannot be overlooked or given cursory treatment. If the business appraiser gets this wrong or fails to properly explain the elements in his or her report, you might receive a work product that doesn’t satisfy your intended purpose.
Also in this issue is an article entitled “Customary and Not-So-Customary Services in the Litigation Arena”:
We have worked with many attorneys over the last 30 years on a broad range of projects for purposes ranging from gift and estate tax to financial reporting to employee stock ownership plans (ESOPs) to fair value determinations. In addition, a growing number of assignments have been related to litigation support. As such, this article relates our experience in the litigation support arena and highlights not only those services well known to attorneys, but other services that business valuation professionals can provide with which some attorneys may not be as familiar.
There is other information included helpful to estate planners.