1 AICPA conference AICPA/AAML National Conference on Divorce The Premier Conference on Financial, Legal and Tax Issues in Divorce May 6-7, 2010 Bellagio Las Vegas, NV Save $75! Register by Pre-Conference Value-Added Workshops: Wednesday, May 5 th 3/23/10 Please note: Both CPE and CLE credits are available! The only conference offering the full perspective on cutting-edge legal and financial divorce topics delivered by expert CPAs, family law attorneys and judges. Key Issues: >> Hot topics in business valuations >> Trial strategies in today s economy >> Dirty little valuation secrets >> Hotel Reservation Cut-Off Date: 4/7/
2 RECOMMENDED CPE CREDIT: 18 (main) up to 3 (optional) Dear Colleagues, On behalf of the American Institute of Certified Public Accountants and the American Academy of Matrimonial Lawyers, we invite you to join us in Las Vegas for the premier nationwide conference on divorce and related valuation and taxation issues, bar none! We have secured the best speakers from around the country to teach and update us on cutting-edge issues that concern us all as divorce practitioners and CPAs practicing in this field. A quick review of the brochure reveals the quality and quantity of the topics that will be presented. We are confident that you will find many programs of interest; so many, in fact, that you may indeed have a problem choosing which session to attend when there are so many interesting topics. Additionally, you will have the opportunity to meet and network with your peers and the most well respected attorneys and CPAs from around the country at the numerous social events we have planned. Simply put, you do not want to miss this conference. We look forward to seeing you in Las Vegas. Sincerely, AAML Co-Chair, David H. Levy Managing Partner Berger Schatz Chicago, Illinois AICPA Co-Chair, Barry S. Sziklay Partner Friedman LLP NJ, NYC, Long Island ABOUT THE CO-SPONSORING ORGANIZATIONS The American Academy of Matrimonial Lawyers (AAML) is composed of the nation s top 1,600 matrimonial attorneys who are recognized experts in the specialized field of matrimonial law, including divorce, prenuptial agreements, legal separation, annulment, custody, property and support. The Academy has rigorous standards for membership. These include stringent practice and specialization requirements, successful completion of oral and written examinations, participation in continuing legal education, and recognition by peers for both family law expertise and high ethical standards. For more information, visit The American Institute of Certified Public Accountants (AICPA) is the national professional association of CPAs, with nearly 350,000 members, including CPAs in business and industry, public practice, government, and education; student affiliates; and international associates. It sets ethical standards for the profession and U.S. auditing standards for audits of private companies; federal, state and local governments; and non-profit organizations. It also develops and grades the Uniform CPA Examination. For more information, visit: 2 Register by 3/23/10 SAVE $75!
3 hot topics: 4 Top 10 Dumbest Things People Do to Hide Money in a Divorce 4 Attorney Tricks and Witness Traps: The Litigation Wars 4 Case Law Update: The Dirty Dozen 4 Dealing with Cash Flow in Divorce in the New Economy 4 Tax Law Update 4 How to Survive Bankruptcy, Workouts and Restructurings in the Midst of a Divorce CPE and CLE credit available see page 14 for details 4 Martial Fraud Investigations & Tracing/Allocating Assets in Today s Economy 4 Subsequent Events After Valuation Date WhY attend Whether you are a seasoned litigator, CPA, attorney or consultant you will learn effective strategies for addressing and solving sophisticated financial problems in divorce cases. Don t miss this opportunity to enhance your expertise in family law services and learn how to deliver effective and strategic solutions for your clients. Who should attend CPAs in litigation, divorce, valuation, and taxation; lawyers, consultants, and specialists with involvement in divorce. Did you know that CLE credit is available for this conference? Please see page 14 for details. An Eco-Friendly and Paperless Initiative In an effort to be more environmentally friendly, cost conscious and forward-thinking, AICPA Meetings & Conferences is offering participants access to conference materials via a speaker materials website in advance of the conference. Print stations and power connections will be provided onsite for access to the speaker presentations. *Conference manuals with session outlines will not be provided onsite. *Be sure to supply a valid address when registering. Instructions to access the speaker materials website [www.aicpaconferencematerials.com] are distributed via approximately two weeks prior to the start of the conference. Also, add to your safe sender list. Thank You to Our Sponsors! Gold IFS/Avitas For more information Call Visit 3
4 Conference Agenda Topics, fields of study and speakers are subject to change FIELDS OF STUDY BE-BEHAVIORAL ETHICS SKA-SPECIALIZED KNOWLEDGE & APPLICATION T-Tax BL-Business Law C-Communications S-Statistics Pre-Conference Wednesday, May 5 / value-added Workshops 12:00 pm - 5:00 pm Registration and Message Center Open 1:00 pm - 1:50 pm Complimentary Sponsor Solution s These sessions provide 1 hour of CPE. s1 Family Law Tax Issues and New Settlement Solutions SKA John McCullogh, President, IFS/Avitas, Chicago, IL dan Carroll, Vice President, IFS/Avitas, Sales & Marketing, Chicago, IL Please check conference website for more session details. 2:00 pm - 5:00 pm Value-Added Workshops (additional fee) 101 Do s & Don ts of Electronic Evidence: Review of Rules of Evidence SKA James A. Hennenhoefer, J.D., Family Law, James A. Hennenhoefer, A.P.C., Vista, CA Gordon D. Cruse, Gordon D. Cruse APLC, Certified Family Law Specialist, San Diego, CA E-discovery has undergone rapid and significant changes in recent years. The extent of e-discovery has mushroomed, and the process has become unduly expensive and unwieldy. The session will serve as guidance in this demanding new practice area. 102 Statistics S Dr. G. William Kennedy, CPA/ABV, Ph.D., Partner, Anders, Minkler & Diehl LLP, St. Louis, MO Randall B.Wilhite, Esq., CPA, J.D., Fullenweider Wilhite PC, Houston, TX This session will present methods of using statistics to improve appraisals and impeach reports. The presenters will discuss valuable strategies, methodologies and applications, from both CPA and legal perspectives, outlining the most effective methods to present and cross-examine experts who use statistics to buttress or justify their opinions. special networking event Join us for Be atles LOVE A Cirque du Soleil production (see page 8 for details tickets can be purchased at Bellagio World class accommodations and the highest level of personal service provide the perfect setting for this premier conference. The Bellagio is an AAA Five-Diamond hotel that is tranquil yet exhilarating, sophisticated yet informal, where networking with friends and fellow practitioners comes easily over dinner, drinks, or entertainment venues. The Bellagio. Extraordinary in every way. 4 Register by 3/23/10 SAVE $75!
5 main Conference thursday, May 6 / Day One 6:00 am - 5:30 pm Registration and Message Center Open 7:00 am - 8:00 am Continental Breakfast 8:00 am - 8:10 am Opening Chair Remarks 8:10 am - 9:25 am General 1 Hot Topics in Business Valuation SKA James R. Hitchner, CPA/ABV/CFF, ASA, Managing Director, Financial Valuation Advisors, Inc., Ventnor City, NJ Mr. Hitchner is Managing Director of Financial Valuation Advisors, President of The Financial Consulting Group and CEO of Valuation Products & Services. He is also Editor-in-Chief of Financial Valuation and Litigation Expert journal (www.valuationproducts.com). He is editor/ coauthor of the books Financial Valuation: Applications and Models (FVAM), second edition; Financial Valuation Workbook (FVW), second edition, and Valuation for Financial Reporting, Fair Value Measurements and Reporting: Intangible Assets, Goodwill, and Impairment (VFR), second edition, all published by Wiley. He is also coauthor of PPC s Guide to Business Valuations, 19th edition, published by Thomson Reuters. He has coauthored 20 courses, taught over 60 courses, published over 60 articles, and has made over 100 conference presentations. He is also an inductee into the AICPA Business Valuation Hall of Fame. He was also one of only four members of the initial AICPA Business Valuation Standards Writing Task Force. What factors drive value and credibility? How about discount and cap rates, discounts and/or premiums and adherence to standards? Learn how valuation analysts support their analyses and also how they can distort them. This session will cover: New choices and problems with risk premium data in the cost of capital The elusive and abusive specific company risk factor How to tell when a growth rate is too high or too low The latest on discounts for lack of marketability Using control premiums to inflate or deflate values Hidden gems in the latest business valuation standards 9:25 am - 9:45 am Refreshment Break & Vendor Display 9:45 am - 11:00 am s 2 Family Case Law Update The Dirty Dozen: National Emerging Valuation Issues (repeated in #18) SKA Gaetano (Guy) Ferro, Esq., Marvin, Ferro, Garndollar & Roberts, LLC, New Canaan, CT This session will present updates of the most significant valuation cases since June 1, 2008, including those which have national implications for divorce cases. 3 Top 10 Dumbest Things People Do to Hide Money in Divorce: Tracking Made Easy (repeated in #203) SKA Clay Price, CPA, Cr. FA, Director Harris Cotherman Jones Price & Associates, Vero Beach, FL Janet D. Platt, J.D., Law Offices of Janet D. Platt, Anchorage, AK This session demonstrates how to most effectively track money in a divorce and how to ultimately find the hidden assets. After careful deliberation, the dumbest husband, wife, CPA and attorney awards will be announced during this session. For more information Call Visit 5
6 Conference Agenda 9:45 am - 11:00 am 4 Emerging Issues in Healthcare Valuation in Divorce Cases SKA Robert J. Cimasi, MHA, ASA, CBA, AVA, CM&AA, President, Health Capital Consultants, St. Louis, MO Unparalleled changes in the healthcare delivery system had a dramatic impact on the (continued) ownership and value of healthcare enterprises, ranging from professional practices and outpatient/ambulatory centers to hospitals, long-term care and ancillary enterprises. Learn how these forthcoming challenges and issues in the current era of healthcare reform relate to key value drivers in divorce cases. Learn about recent developments in healthcare reform and how they affect valuation methodology Delve into regulatory and reimbursement changes as they affect healthcare entities Discuss how these changes may have an impact on precedent from key cases in divorce law related to healthcare entities 11:55 am - 11:20 am Refreshment Break & Vendor Display 11:20 am - 12:35 pm s 5 Marital Fraud Investigations and Tracing/Allocating Assets in Today s Economy SKA Michael S. Kridel, CPA/CFF/CITP, CFC, PA, Partner, Daszkal Bolton LLP, Boca Raton, FL Randall B. Wilhite, Esq., CPA, J.D., Fullenweider Wilhite PC, Houston, TX The economic environment has changed dramatically, and nowhere is it more dramatically evident than in the family law courtroom. Where couples used to fight over who will get assets, they now fight over who can walk away from liabilities. This new dynamic has exacerbated the motivations of certain spouses to conceal assets and otherwise defraud their spouses and the courts. We will discuss how: Attorneys and forensics can develop strategies directed at minimizing this kind of fraud To focus on productive discovery methodologies to gain the biggest bang for the buck To utilize electronic discovery techniques more effectively To deal with difficult fact patterns and even more difficult clients 6 Hot Issues and Tips: 25Q, 25A, 75M SKA Moderator: Kenneth Raggio, J.D., Law Offices of Raggio & Raggio PLLC, Dallas, TX Donald J. DeGrazia, CPA/ABV/CFF, Gold Gocial Gerstein LLC, Moorestown, NJ Daniel J. Jaffe, J.D., Jaffe and Clemens, Beverly Hills, CA Stacy Preston Collins, CPA/ABV/CFF, Financial Research Associates, Philadelphia, PA This session, featuring notable lawyers and forensic accountants/business valuation experts, tackles some difficult questions that arise in divorce situations, dealing with valuation, liquidity, tax traps, and ethical issues often presented to professionals in a divorce case. A few of the questions aren t even known at the time of this brochure printing; but the panel is sure to give creative, cogent, and workable answers to all the questions during the presentation. 7 Valuation of Hedge & Private Equity Funds SKA John R. Johnson, CPA/ABV/CFF, CBA, DABFA, Senior Partner, Valuation & Litigation Support, BST, Albany, NY The session will focus on understanding the detailed financial underpinnings of hedge funds and private equity funds, and the issues appraisers are confronted with when valuing them. Valuation approaches and methodologies will be discussed. Additional issues unique to matrimonial matters will be addressed and analyzed. Understanding hedge funds Understanding private equity funds Valuation approaches and methodologies Effect of economic downturn Discussion of issues unique to matrimonial matters 12:35 pm - 1:35 pm Lunch 6 Register by 3/23/10 SAVE $75!
7 1:35 pm - 2:50 pm General 8 Effective Communication Selling Your Story C Barbara Tannenbaum, Ph.D., Dynamic Communication, Providence, RI Selling your story requires you to be a powerful communicator. Participants in this session will learn to apply nonverbal and vocal techniques along with elements of persuasion to increase effectiveness. Key ideas presented will include: Balancing your goal with the needs of your audience The importance of nonverbal communication and how to portray power How to take up space to maximize results for men and women How to present evidence, credibility and emotional appeals to any audience 2:50 pm - 3:10 pm Change Break 3:10 pm - 4:10 pm s Barbara Tannenbaum teaches courses in public speaking and persuasive communication in the Department of Theatre, Speech and Dance at Brown University. Her skills as a teacher, lecturer and seminar leader have earned her an international clientele consisting of doctors, lawyers, state supreme and appellate court judges, politicians (including U.S. senators) and community and organization leaders. She has advised and conducted public speaking workshops with the Third World Transition Program and with the Women in Science and Engineering group at Brown. She has worked with nationally prominent nonprofit and for-profit organizations. 9 Valuing Contingent Assets SKA Gary Karlitz, CPA/ABV, CBA, ASA, Citrin Cooperman & Company, LLP, New York, NY Clients holding an equitable interest in contingent assets will not always accept an if, as and when settlement. This session will provide the tools to the lawyer and CPA for measuring the intrinsic value of a potential recovery in a lawsuit, a personal injury law firm, a contract-related windfall, a business venture with considerable risk or a sale of business earn-out. Part art and part science, we will consider scenario analysis, decision tree analysis and Monte Carlo simulations. 10 The Cutting Edge Issue: Whether as a Matter of Law a Statutory Partnership Exists Between Separate Property Entity and the Community Estate SKA Bobby K. Newman, J.D., Lilly, Newman, Van Ness, LLP, Houston, TX Co-Presenter to be announced (check conference website for updates) Whether or not the marital estates intended there to be a partnership, a statutory partnership may exist between the separate estate of one spouse and the community estate if certain elements of the state s partnership or business statutes are met, resulting in a percentage claim by the community estate against the separate property entity, as opposed to a mere reimbursement or under compensation claim (i,e., statutory, not discretionary). 11 Tax Law Update T Donald J. DeGrazia, CPA/ABV/CFF, Gold Gocial Gerstein LLC, Moorestown, NJ Jeffrey W. Brend, J.D., CPA/ABV, ASA, CFE, CFF, AAML, Partner, Levin & Brend, P.C., Chicago, IL Successful marital settlements hinge on a thorough understanding of divorce-related tax issues. Changing tax laws and judicial rulings complicate the process. It s going to be a surprising Can anyone predict what the tax changes will be in 2010? Come discover the probable changes in capital gains tax, health insurance tax, estate tax, tax rates and other related issues, and their effect on your client s marital settlement. 4:10 pm - 4:30 pm Refreshment Break & Vendor Display For more information Call Visit 7
8 Conference Agenda 4:30 pm - 5:30 pm s 12 The Soft Underbelly of the Valuation Report: Lawyers - Learn How to Exploit It; BV Experts Learn How to Avoid It SKA Carole S. Gailor, J.D., Gailor, Wallis & Hunt, PLLC, Raleigh, NC Michelle Gallagher, CPA/ABV/CFF, Gallagher & Associates CPAs, PLC, Lansing, MI In this session, a veteran business appraiser and a lawyer skilled in the cross-examination of business valuation experts will lead a rapid paced discussion on the weaknesses in business valuation reports. Learn how a lawyer skilled in cross-examination can exploit these weaknesses and destroy the credibility of the business appraiser. Learn how an expert can bulletproof their valuation reports, avoid common errors and vulnerabilities, and the dreaded death by a thousand cuts. Find out the ten scariest questions on cross-examination and how to answer them. 13 Trial Strategies in Today s Economy SKA Stacy Preston Collins, CPA/ABV/CFF, Financial Research Associates, Philadelphia, PA Sandra Morgan Little, J.D., Little, Gilman-Tepper & Batley, P.A., Attorneys at Law, Albuquerque, NM Taking a matrimonial case to trial gets even harder in today s economy. In this session, an attorney and financial expert will address what issues and strategies one might address differently in the current economic climate. Issues include: Is it preferable (or not) to try to prove lifestyle based on pre-crash income? How does the expert confirm signs of a slowdown in a business? Is it an aberration or sustainable? Is it now more (or less) preferable to work with a joint expert? Are judges more or less likely to impute income? What if you re in a state that only values businesses at current value if there are passive forces at play? 14 Dirty Little Valuation Secrets (repeated in #21) SKA Robert E. Duffy, CPA/ABV, CFA, ASA, Partner, Advisory Services - Valuation, Grant Thornton LLP, Seattle, WA Attend this session and learn how hidden items in a valuation report can skew the reported opinion of value. Items to be covered: Selection of relevant earning capacity End-of-year vs. mid-year discounting Control adjustments and the lack of control discount Using an EBITDA terminal multiple 6:00 pm - 7:00 pm Cocktail Networking Reception 9:30 pm Beatles LOVE (additional fee - $165 per ticket) LOVE is the latest Cirque du Soleil production which celebrates the musical legacy of The Beatles. Drawn from the poetry of the lyrics, LOVE explores the content of the songs in a series of scenes inhabited by real and imaginary people. The international cast of 60 channels a raw, youthful energy underscored by aerial performance, extreme sports and urban, freestyle dance. For more information or to purchase tickets please visit: (Please note: tickets are non-refundable) 8 Register by 3/23/10 SAVE $75!
9 main conference Friday, May 7 / DAY two 7:00 am - 5:30 pm Registration and Message Center Open 7:00 am - 8:00 am Continental Breakfast 7:00 am - 7:50 am Early Riser s 201 Same-Sex Marriages and Civil Unions SKA Daniel L. Bray, J.D., Bray & Klockau, PLC, Iowa City, IA Shannon I. Shaw, CPA/ABV, ASA, CBA, BVAL, Shaw Business Valuation & Litigation Support, North Liberty, IA This program will discuss jurisdictional, tax and estate planning issues for civil unions, samesex marriages and same-sex divorces. The session includes a discussion of the Defense of Marriage Act as it relates to taxation and family law issues of same-sex marriage and divorce. The speakers will discuss related financial issues of traveling between jurisdictions that have differing recognition of same-sex marriage and divorce. 202 Dealing with Cash Flow in Divorce in the New Economy SKA Sharyn Maggio, CPA, Maggio & Company Inc., Eatontown, NJ James Godbout, ASA, CVA, CDFA, Director, Dispute Advisory & Forensics Services, Stout Risius Ross, Inc., Chicago, IL Is the company tanking because of the economy or because of the divorce? How do you address these issues in your analysis? Can history tell you anything anymore? What does your crystal ball tell you? We will address the problems facing appraisers dealing with these issues and provide creative solutions on how to deal with declining cash flow in the current economy. Identify factors affecting the company which are related to the economy vs. something else Creative solutions to the issue of declining cash flows Placing a cash value on non-cash perks and considerations How appraisers are dealing with discount rates during these turbulent times Addressing deferred compensation for services during lean years and start-up periods 203 Top 10 Dumbest Things People Do to Hide Money in Divorce: Tracking Made Easy (repeat of #3) SKA 7:50 am - 8:00 am Change Break Conference Chairs: David H. Levy is a trial lawyer with 33 years of experience handling complex financial and custody cases. He is the managing partner of the law firm Berger Schatz, one of the country s largest firms specializing in matrimonial and family law with offices in both Cook and Lake Counties, Illinois. Mr. Levy is a Fellow of the American Academy of Matrimonial Lawyers since 1984, having served as a member of the Executive Committee of the national organization in 2004 and on its National Board of Governors from 1995 to 1998 and 2006 to 2009 as well as being President of the Illinois Chapter in He has lectured extensively throughout the United States, including presentations to the American Bar Association and the American Academy of Matrimonial Lawyers and the American Institute of Certified Public Accountants. Mr. Levy has extensive experience in complex financial matrimonial matters, custody and representation of children. His honors include being selected as a Leading Lawyer of Illinois every year since 2003 as well as one of the 20 Best Divorce Lawyers in Chicago by North Shore Magazine. He has been awarded the Michael S. Cohen award by the Illinois Chapter of the American Academy of Matrimonial Lawyers and the Illinois Institute for Continuing Legal Education. The Cohen award is given to an individual who has demonstrated a continuing commitment to the professional education of matrimonial attorneys. Barry Sziklay, a partner at Friedman LLP, is a nationally recognized valuation and litigation support practitioner with more than 30 years of experience in a broad range of CPA firms as well as within the investment banking industry. He was a founding and managing member of a major New York-area PCAOB-registered financial services firm serving individuals, domestic and international businesses and their attorneys. Barry has served as an expert witness in valuation, economic damages, theft of intellectual property, forensic accounting, securities fraud, accountants malpractice, and fiduciary dispute cases. An accomplished author and speaker, he has shared his knowledge and thought leadership on valuation, forensic accounting, litigation support, mergers and acquisitions, income, gift, trust and estate and other financial planning matters in a variety of forums serving on editorial boards, writing for industry publications and contributing course materials and training programs for the American Institute of Certified Public Accountants, the Federal Judiciary, the United States Tax Court and the Federal Bureau of Investigation. For more information Call Visit 9
10 Conference Agenda 8:00 am - 9:30 am General 15 How to Survive Bankruptcy, Workouts and Restructurings in the Midst of a Divorce SKA Barry S. Sziklay, CPA/ABV/CFF, PFS, Partner, Friedman LLP, East Hanover, NJ Steven Z. Jurista, Esq., Partner, Wasserman Jurista & Stolz, P.C., Milburn, NJ Steven Z. Jurista received a B.A. in Economics, with honors, from Rutgers College in 1974, and a J.D. from Rutgers Law School - Newark in He is admitted to practice in New Jersey, the United States District Court for the District of New Jersey, and the Third Circuit Court of Appeals. Mr. Jurista has also served as a bankruptcy panel trustee, and is a sought-after speaker on bankruptcy related issues. He has lectured on bankruptcy practice, asset protection, matrimonial issues in bankruptcy, debtor representation and many other topics. Mr. Jurista has significant experience and success in out-of-court workouts in both large and small cases, enabling businesses to avoid the cost and trauma of formal bankruptcy proceedings. He is also a much-sought-after Receiver and Assignee for the Benefit of Creditors, having administered cost-effective and results-oriented liquidations of many substantial businesses. Mr. Jurista has been elected by his peers and colleagues to be included in the Edition of The Best Lawyers in America. This publication has become universally regarded as the definitive guide to legal excellence in the United States, by both the legal profession and the media. Mr. Jurista has also been recognized by New Jersey Monthly magazine and New York Magazine as one of the premier attorneys in the State. This session will address the impact of bankruptcy, workouts and restructurings on equitable distribution and support, both pendente lite and post-dissolution; intersection of personal and business bankruptcy rules (Chapters 7, 11 and 13); team members that must be assembled; with whom and how should the team members interact; how to deal with lenders, clawback claims and fraudulent conveyance issues; and potential exposure to family lawyers and their non-bankruptcy financial advisors. We will discuss how the bankruptcy court and family court interact. Which one trumps the other, and does that order change depending upon particular issues? In bankruptcy and other distressed situations, who is the captain of the ship family lawyer, CPA or bankruptcy attorney? We will address how leadership needs to be structured who should lead at different times and in different circumstances, and why that organizational structure is required. 9:30 am - 9:50 am Refreshment Break & Vendor Display 9:50 am - 11:05 am s 16 Understanding and Managing High-Conflict Disputes Part A C William Eddy, LCSW, J.D., (CFLS), President, High Conflict Institute, Scottsdale, AZ The first part of this session will explain the dynamics of five high-conflict personalities who frequently drive family law disputes: narcissistic, borderline, paranoid, antisocial and histrionic. Participants will: Identify the interpersonal conflict dynamics of five high-conflict personality styles in family disputes Apply recent brain research to changing their high-conflict behavior 17 Cost of Capital in Today s Economy and Valuing Companies in A Distressed Economy SKA Roger J. Grabowski, ASA, Managing Director, Duff & Phelps LLC, Chicago, IL Value the cost of acquiring capital Cutting-edge adjustments What effects? Should the basic inputs into the build-up model be modified to account for the recession? If so, how do you accomplish this? Factors to consider approached to use 18 Family Case Law Update - The Dirty Dozen: National Emerging Valuation Issues (repeat of #2) SKA 11:05 am - 11:25 am Refreshment Break & Vendor Display 10 Register by 3/23/10 SAVE $75!
11 11:25 am - 12:25 pm s 19 Understanding and Managing High-Conflict Disputes - Part B C William Eddy, LCSW, J.D., (CFLS), President, High-Conflict Institute, Scottsdale, AZ The second part includes ten tips for managing high-conflict disputes by managing the high-conflict personalities involved, including clients, family members, and other professionals. Participants will: Apply ten methods for managing people with high-conflict personalities in family law disputes Manage the negative advocates common in these high-conflict disputes 20 Beyond a Reasonable Doubt: Reasonable Compensation and How to Divide It SKA Ron Seigneur, CPA/ABV, CVA, MBA, Partner, Seigneur Gustafson Knight LLP, Lakewood, CO Sharyn Maggio, CPA, Maggio & Company Inc., Eatontown, NJ This session will focus on the appropriate methods resources used to support determinations of reasonable compensation for owner-employees. It will highlight landmark case law that is instructive in reasonable compensation determinations and sources of empirical evidence that is available to support compensation determinations. Discussion will also include approaches that can be applied to determine proper allocations between compensation needed to support service to a closely held enterprise versus excess earnings available for maintenance Landmark tax court case law that is instructive for dissolution of marriage compensation determinations It came from the Internet It must be good evidence not! Owner-employee compensation in the context of the double dip argument A case study example of the impact of compensation determinations 21 Dirty Little Valuation Secrets (repeat of #14) SKA 12:25 pm - 1:25 pm Lunch 1:25 pm - 2:40 pm General 22 Attorney Tricks/Witness Traps: The Litigation War SKA Jeffrey W. Brend, J.D., CPA/ABV/CFF, ASA, CFE, AAML, Partner, Levin & Brend, P.C., Chicago, IL Z. Christopher Mercer, ASA, CFA, ABAR, Founder, CEO, Mercer Capital, Memphis TN Jeffrey W. Brend is a principal in the nationally recognized family law, forensic accounting and business valuation practice Levin & Brend, P.C in Chicago, Illinois. Mr. Brend is a forensic divorce attorney who has been featured in Fortune magazine, Newsweek and on the Sky Radio Network as one of America s premier lawyers. He is the only person in the country who is a fellow of the American Academy of Matrimonial Lawyers, a Senior Appraiser with the American Society of Appraisers, Accredited Business Valuator with AICPA and a Certified Fraud Examiner. Mr. Brend has been named an Illinois Super Lawyer from 2007 to He is an adjunct professor at Chicago-Kent Law School of Law Family Law Program, where he teaches Financial Aspects of Divorce. Along with being a family law attorney, Mr. Brend is a Certified Public Accountant who is qualified as a financial expert to value businesses, determine net income and complete financial investigations. He has written numerous articles about business valuation, forensic accounting and child custody issues along with the textbook Accounting for Divorce. Z. Christopher Mercer is founder and chief executive officer of Mercer Capital, a business valuation and investment banking firm serving a national and international clientele. Mr. Mercer began his valuation career in the late 1970s. He has prepared, overseen, or contributed to hundreds, if not thousands, of valuations for purposes related to M&A, litigation, and tax, among others. He is a prolific author on valuation-related topics and a sought-after speaker on business valuation issues for national professional associations and other business and professional groups. Mr. Mercer serves as the chairman of the Standards Subcommittee for the American Society of Appraisers. Learn advance techniques to avoid the pitfalls of expert testimony. Discover how attorneys can trick and trap expert witnesses. This session provides expert testimony countermaneuvers. Witness preparation and testifying tricks will be taught to evade courtroom traps. 2:40 pm - 3:00 pm Refreshment Break & Vendor Display For more information Call Visit 11
12 Conference Agenda 3:00 pm - 4:00 pm s 23 Valuing Derivatives & Shared-Based Compensation SKA Robert P. Schweihs, ASA, Managing Director, Willamette Management Associates, Chicago, IL When the marital estate includes the right to receive an equity interest in the future, any analysis of the estate should carefully plan out the valuation assignment: defining the asset, the standard and premise of value, the valuation date, and the circumstances under which the asset s value may change. Attendees will leave with an understanding of the most critical issues being confronted in these types of valuation assignments including: Different values for different purposes Comparing methodologies Simplified formulas Presenting the results Sensitivity analysis 24 When the Business in a Divorce Should Be the Business of a Divorce Is or Should Be a Party to the Divorce SKA Thomas F. Burrage, CPA/ABV/CFF, CVA, Principal, Burrage & Johnson, CPAs, LLC, Albuquerque, NM Sandra Morgan Little, J.D., Little, Gilman-Tepper & Batley, P.A., Attorneys at Law, Albuquerque, NM A business in a divorce presents unique challenges to the matrimonial attorney and the accountants involved. This program will address how to prepare, negotiate and resolve the business case within the divorce case: Obtaining and protecting critical business documents and the privacy of the parties and the business Making the most of the business valuation as a negotiation tool Dealing with the other partners to the business Utilizing the best tax treatment of business assets upon division Can continued joint ownership of the business ever work? 25 Subsequent Events after the Valuation Date SKA Z. Christopher Mercer, ASA, CFA, ABAR, Founder, CEO, Mercer Capital, Memphis TN The appropriate consideration of subsequent events by courts and appraisers in reaching valuation conclusions is important. Chris Mercer, an appraiser in the Estate of Noble, will address the conflicting guidance from the courts, professional standards, and business appraisal textbooks in this presentation. Understand what constitutes a subsequent event Understand how to properly account for subsequent events Learn what guideline statements say about subsequent events Clarify what existing case law says about subsequent events 4:00 pm - 4:15 pm Refreshment Break 4:15 pm - 5:30 pm s 26 Should the Financial Effects of Recent Ponzi Schemes and Financial Frauds be Considered a Fraud Upon the Marital Estate? SKA Madeline Marzano-Lesnevich, Esq., Lesnevich & Marzano-Lesnevich, LLC, Hackensack, NJ Barry S. Sziklay, CPA/ABV/CFF, PFS, Partner, Friedman LLP, East Hanover, NJ What are the considerations? Should equitable distribution be reconsidered even if such distribution was fairly bargained for, incorporated into a marital settlement agreement, and a final decree of divorce was already issued? How to value? 27 Personal Goodwill Issues: When the Consideration Received is in the Form of Executive Retirement Plans, Stock Options and other Executive Perquisites SKA Richard L. Flowers Jr., J.D., McEvily & Flowers, Lawyers, Houston, TX Jeannie L. McClure, CPA/ABV, ASA, J.D., The McClure Firm, Houston, TX It is becoming more and more critical that financial advisors and attorneys not fail to consider the language of owner and key management executives retirement plans and stock option agreements, where there are restrictive covenants, such as non-compete, non-disclosure or non-solicitation. [As the value should be considered as potentially separate property if personal goodwill is separate property in your state.] Partner/shareholder in major CPA and law firms is a perfect example. 12 Register by 3/23/10 SAVE $75!
13 4:15 pm - 5:30 pm 28 Blood from a Stone: Finding and Determining Income in These Tough Economic Times SKA Moderator: David Levy, J.D., Berger Schatz, Chicago, IL Leslie Dawson, CPA/ABV/CFF, CVa, Partner, Glenn & Dawson, LLP, Walnut Creek, CA (continued) James Godbout, ASA, CVA, CDFA, Director, Dispute Advisory & Forensics Services, Stout Risius Ross, Inc., Chicago, IL Kenneth Raggio, J.D., Law Offices of Raggio & Raggio PLLC, Dallas, TX These difficult economic times present interesting situations in determining income for support. Issues to be covered in this panel discussion include: Impact of loan/equity line forgiveness on income cash received earlier but never recognized for support purposes Determining proper time period to evaluate for income going forward, including averaging sporadic income Imputing of income for services is there adequate opportunity out there to get the suggested salary/income? Does this relate to barter? Imputing of income from assets considering the declining rates of return and market values Impact of community debts on income available for support How are various states treating income from stock grants, options, and restricted shares these days? Impact of recurring gifts? Cash flow vs. income S Corp income vs. distributions Does lifestyle affect the level of necessity for support calculations? How is the pain to be shared when resources won t cover the necessities? 5:30 pm Conference Adjourns Aaml Steering Committee Chair David H. Levy, J.D., Berger Schatz, Chicago, IL Members Daniel L. Bray, J.D., Bray & Klockau, PLC, Iowa City, IA Jeffrey W. Brend, J.D., CPA/ABV/CFF, ASA, CFE, AAML, Levin & Brend, P.C., Chicago, IL Joy Feinberg, J.D., Feinberg & Barry, PC, Chicago, IL Carole S. Gailor, J.D., Gailor, Wallis & Hunt PLLC, Raleigh, NC Janet Platt, J.D., Law Offices of Janet D. Platt, Anchorage, AK Kenneth Raggio, J.D., Law Offices of Raggio & Raggio PLLC, Dallas, TX AICPA Steering Committee Chair Barry S. Sziklay, CPA/ABV/CFF, PFS, Friedman LLP, East Hanover, NJ Members AICPA Staff Tom F. Burrage, CPA/ABV/CFF, CVA, Burrage & Johnson, CPAs, LLC, Albuquerque, NM Robert Duffy, CPA/ABV, CFA, ASA, Grant Thornton LLP, Seattle, WA Michelle F. Gallagher, CPA/ABV/CFF, Gallagher & Associates PLC, Lansing, MI Jim Godbout, ASA, CVA, CDFA, Stout Risius Ross, Inc., Chicago, IL Gary Karlitz, CPA/ABV, CBA, ASA, Citrin Cooperman & Company, LLP, New York, NY Jeannie L. McClure, CPA/ABV, ASA, J.D., The McClure Firm, Houston, TX Clay Price, CPA, Cr. FA, Harris, Cotherman, Jones, Price & Associates, Vero Beach, FL Shannon Shaw, CPA/ ABV, ASA, CBA, BVAL, Shaw Business Valuation and Litigation Support, North Liberty, IA Stacy Campbell, Conference Logistics, Durham, NC Sandra C. McMahon, Program Development, Durham, NC For more information Call Visit 13
14 Additional Resources CLE Credits CLE credits are available. After registering for the conference, attendees requesting CLE credits should contact with their state and bar number. Each state approves the conference independently and approval can take up to six weeks. Save the dates for the following events: 4AAML Annual Meeting November 2-6, Chicago, IL 4AICPA Forensic Accounting Conference September 29-October 1, Boston, MA 4AICPA National Business Valuation Conference November 7-9, Washington, DC 100 ways to find fraud in divorce engagements Forensic Accounting for Divorce Engagements: A Practical Guide By Donald A. Glenn, CPA/ABV, CVA, CFE, CFF and Ezra Huber, J.D. new To order: CALL or VISIT Now in a new edition, this book offers a wealth of tools to assist with searches for assets that a spouse may try to conceal. Using real-world examples, it reveals how to outsmart fraudsters and features valuable new material, including: Badges of Fraud 100 signs that a spouse may be concealing assets Executive Fraud A new chapter on marital fraud by executives at large and publicly held companies Forensic Accountant as Expert Witness Advice on making the most of appearances on the witness stand and in depositions Client Management Terms every engagement letter must contain and how to handle fees Updated appendices are chock-full of templates for information gathering before and during divorce litigation, including business valuation worksheets, real property questionnaires, requests for documents, and more Paperback Regular $ SJX AICPA Member $ Register by 3/23/10 SAVE $75!
15 4 Ways to Register Fast ONLINE*: PHONE*: or FAX*: or MAIL: Complete and mail the form along with your promotion code and payment to: AICPA Member Service Center, Conferences, 220 Leigh Farm Road, Durham, NC *Credit card registration only (AICPA VISA, American Express, Diners Club, Discover, MasterCard or VISA ) RECOMMENDED CPE CREDIT 18 (main) up to 3 (optional) This conference was prepared in accordance with the Joint AICPA/NASBA Statement on Standards for Continuing Professional Education (CPE) Programs effective on January 1, The recommended CPE Credits are in accordance with these standards; however, your individual state board is the final authority on the acceptance of programs for CPE credit. For CLE Credits, please your request to Please include your state, name and pertinent information in the . CONFERENCE FEE Registration fees are determined by current membership status in the AICPA or AAML. Please indicate member number on the registration form to obtain the correct discount. Conference fee includes all sessions, conference materials, continental breakfasts, refreshment breaks, luncheons and a reception. Fee for optional workshops includes all session materials and refreshment breaks. Program Code: div10 GROUP REGISTRATION Registration for 2 or more individuals per firm may qualify for group discounts; additional savings may be available for groups of 10 or more. For more information please and indicate Group Conference Sales in the subject line or phone , choose option 1. CANCELLATION POLICY You may cancel without penalty if written cancellation requests are received by March 22, Due to financial obligations incurred by the AICPA, a credit voucher less 50% of the registration fee will be issued for written requests received by April 15, No refunds or credits will be issued on cancellation requests received on or after April 16, For further information, call the AICPA Service Center at HOTEL AND GROUND TRANSPORTATION INFORMATION Contact the hotel directly to obtain their policy on reservations, deposits and cancellations. Rooms will be assigned on a spaceavailable basis only. Note, this conference is expected to sell out, so please make hotel arrangements as soon as possible. To receive our special group rates mention that you will be attending the AICPA/AAML National Conference on Divorce. Bellagio Hotel Phone: for online reservations go to: South Las Vegas Blvd. Hotel Reservations: Las Vegas, NV Hotel Room Rate: $189 single/double Hotel Reservation Cutoff Date: April 7, 2010 Ground Transportation from McCarron International Airport (LAS): Taxi Service $15-20 each way, approximately 30 minutes. Hotel Parking Valet and self parking are complimentary. AIRLINE INFORMATION The AICPA has a special arrangement with Maupin Travel, Inc. of North Carolina to assist you with your travel arrangements. This travel agency may be reached at If you prefer to make your own travel plans, be sure to mention the participating airline s reference number (listed below) to take advantage of deeply discounted Zone Fares that do not require a Saturday night stay-over. Discounts are valid for round trip registered AICPA meetings or conferences only. Some restrictions may apply. American Airlines Index #19956 United Airlines Refer to Meeting ID #531SI Delta Airlines Refer to Meeting ID #ny2ac JetBlue Airways go to Use promo code: DIV10 For up-to-date airline information regarding special travel discounts, please visit Due to recent airline industry fare restructuring, we cannot guarantee that the above group travel agreements will be in effect at the time when you are making your travel arrangements. Please contact the airline and/or your travel agency for latest applicable discounts and arrangements. CAR RENTAL Hertz Car Rental AICPA Member Discounts: Call Ref. Code CV#021H0017. Airline and car rental discounts are available only when you or your travel agent book through the 800 number. We strongly advise you to confirm your conference registration and hotel reservation prior to making your travel plans. The AICPA is not liable for any penalties incurred if you cancel/change your airline reservations. Rates are subject to availability. EXHIBIT AND SPONSORSHIP OPPORTUNITIES Don t miss the opportunity to present and sell your organization s services and products to thousands of CPAs and financial professionals at AICPA conferences. For detailed information on conference exhibit and sponsorship opportunities, please send your to For more information Call Visit 15
16 AICPA conference AICPA/aaml National AICPA/CPA2Biz Conference on Divorce 220 Leigh Farm Road Durham, NC >> Register by 3/23/10 SAVE $ Prsrt-std U.S. Postage PAID AICPA/CPA2biz Membership information Very important please be sure to complete. AICPA Member? Yes No AAML Member? Yes No Membership No. (Required for discount prices) (if yes use promo code AAML10 when registering) Nickname for badge BUSINESS TELEPHONE Title Address Conference fees Please circle appropriate rate. Main Conference (div10) AAML/AICPA Member Non-member Early Bird Registration $920 $1,220 SAVE $75 by 3/23/10 Regular Registration $995 $1,295 Pre-ConferencE workshops Wednesday, May 5 (additional fee) 2:00 pm - 5:00 pm (select one) $175 $ Do s and Don ts of Electronic Evidence: Review of Rules of Evidence 102 Statistics Total $ $ To purchase tickets for Thursday night s performance of Beatles LOVE go to Payment information Full payment must accompany registration form. My check for $ payable to AICPA is enclosed. OR Please bill my credit card for $. AICPA VISA American Express Diners Club Discover MasterCard Visa CARD NO. EXP. DATE BILLING NAME SIGNATURE AICPA Use Only DIV10 Registration information Please photocopy this form for additional registrants. If the information on your label is incorrect, please complete the following: Customer No. Promotion Code LAST NAME first NAME MI Firm Name or Affiliation STREET ADDRESS SUITE PO BOX CITy STATE ZIP In accordance with the Americans with Disabilities Act, do you have any special needs? Yes No (If yes, you will be contacted.) 10CPA-273 DIV
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