• Expert testimony
• Deposition testimony
• Preparing questions for trial, depositions, direct and cross examination
• Preparing trail exhibits

Litigation support is a complex service that requires an understanding of the business valuation profession and how it works within the legal system.

The most important, and most neglected, rule in litigation assignment is:

The business appraiser must operate under the rules of the court. The court is under NO obligation to abide by the rules of business appraisal.

Litigation assignments are VERY “standard of value” and “date” specific. This is why it is imperative for the business appraiser to consult with, and obtain the approval of the Attorney when selecting the standard of value and the date of value. An error in selecting either of these two very important components of a business valuation can result in the disqualification of the report and the expert.

Ligation assignments are further complicated by conflicting rulings within the Court system. An example is in the area of gift and estate tax valuation. The Courts AND the business valuation community are divided on the issue of tax affecting and using pre-tax or after-tax discount rates. The following court cases are examples:

• Gross v. Commissioner C. Memo.
• Wall v. Commissioner, C. Memo.
• Heck v. Commissioner, C. Memo.
• Adams v. Commissioner, C. Memo.
• Dallas v. Commissioner, C. Memo.

The valuation expert should be familiar enough with these potential “pit falls” to obtain CLEAR and CONCISE guidance for Counsel. Business Appraisal Group excels in this area.