February 1997Business Valuation
Who decides which individuals are qualified to perform business valuations?
In the United States there are three organizations that presently accredit individuals in business valuation and one organization in the process of developing an accreditation program.
National Association of Certified Valuation Analysts. The professional designation of Certified Valuation Analyst is awarded to individuals who must:
These designations are important to the users of business valuation
reports because they show a substantial commitment by the designated parties
to the discipline of business valuation.
Premarital Agreements - Part 1Litigation Services
Premarital agreements theoretically should make property settlements simpler and more predictable. Having said that, I will tell you that the two largest divorce cases (in terms of professional fees) that I ever worked on involved premarital agreements.
A poorly drafted premarital agreement can often complicate a property settlement and add a greater degree of uncertainty than would exist without an agreement. A premarital agreement is essentially a financial contract just like any other partnership agreement and should be drafted with an understanding of the client's financial situation including:
Was Sgt. Joe Friday a good mediator?
On Dragnet, one of my favorite childhood TV programs, Sgt. Joe Friday was famous for saying, " just the facts ma'am". Parties to financial disputes often need more than just the facts to reach a satisfactory agreement. Mediation theory teaches us that disputants need satisfaction in three areas in order to resolve their disputes.
1. Procedural issues. The way the dispute is to be resolvedI have found that parties in dispute constantly bounce between these three areas of need. It is important that the mediator know where the parties are at any given time and allow them to work through any procedural and psychological issues that impede an agreement concerning substantive issues.
2. Psychological issues. Perceptions of trust, fairness, and respect
3. Substantive issues. Money, physical resources or "just the facts", as Sgt. Friday would say