Matrimonial Trial Institute III
Thursday, May 9, 2013
- Location -
Melville Marriott Long Island
1350 Old Walt Whitman Road
Melville, NY 11747
(631) 423-1600
Can't make this location/date? A webcast option is available on June
7, 2013. Click here
to register.
Description
Closely Held Businesses, Licenses and Professional Practices
Part Three of our “Trial
Academy for Matrimonial Lawyers” series - The most ambitious CLE
series ever undertaken by the Association’s Family Law Section!
Co-sponsored by the Family Law Section and the Committee on Continuing
Legal Education of the New York State Bar Association
6.5 Total Credits: 2.5 Skills, 4.0
Areas of Professional Practice for all attorneys
Part Three in our series on Matrimonial Trial Techniques and
Strategies will cover Closely Held Businesses, Licenses and Professional
Practices
The speakers will focus on:
- Date of Valuation;
- Valuation of Closely
Held-Businesses;
- Licenses and Enhanced Earning
Capacity;
- Valuation of Professional
Practices.
In the context of these areas, the experienced
matrimonial lawyers on the faculty will cover the latest important case
law, applicable statutory law and special court rules you need to know
to successfully advance your case at trial. Furthermore, and of special
importance, the presentations will address the practical application in
preparing for and conducting a trial and specifically, the trial skills
that may be involved with the issue at hand.
The program also features the useful review of
the latest cases and trends in matrimonial law.
Program Agenda
8:30-9:00 a.m.
REGISTRATION (outside meeting room)
9:00-9:50
I. RECENT DECISIONS, DEVELOPING TRENDS AND NEW
LEGISLATION
CLOSELY HELD BUSINESSES, LICENSES AND PROFESSIONAL
PRACTICES
9:50-10:40
II. DATE OF
VALUATION
A. General Rule
1. DRL §236(B)(4)(b)
2. Active/Passive Distinction (Heine
B. Date of Commencement
Valuation
1. Active Control Factor
2. Closest Date Information Available
3. Pre-Commencement Valuation Not Permitted
4. Classification of Post-Separation Assets
5. Transmuted Assets
6. Discontinued Action
C. Date of Trial Valuation
D. Consideration of Post-Valuation
Date Events
E. Date of Sale
F. Court’s Discretion (Note:
Third Department Position – DOC unless “patently
inequitable”)
10:40-10:55
COFFEE BREAK
10:55-12:35 p.m.
III. VALUATION OF CLOSELY HELD BUSINESSES
A. Value Defined
1. Fair Market Value
2. Other values – Value to the Holder, etc.
B. Revenue Ruling 59-60
1. Generally (Note Kaye, 102 A.D.2d 682 (2nd Dept., 1984)
2. Factors
a. The Nature of the Business and the History of the Enterprise From Its
Inception
b. The Economic Outlook in General and the Condition and Outlook of the
Specific Industry in Particular
c. The Book of Value of the Stock and the Financial Condition of the
Business
d. The Earning Capacity of the Company
e. Dividend Paying Capacity
f. Whether or Not the Enterprise Has Goodwill
g. Sales of the Stock and the Size of the Block of Stock to Be Valued
h. The Market Price of Corporations Engaged in the Same or Similar Line
of Business Having Their Stocks Actively Traded in a Free and Open
Market, Either on an Exchange or Over the Counter
C. Discount for Lack of
Marketability
D. Restrictive Agreements
1. A Factor in Valuation
2. Total Basis of Value
E. Business in
Bankruptcy
12:35-1:45
LUNCH (on your own)
1:45-3:00
IV. LICENSES AND ENHANCED EARNING CAPACITY
A. The Beginning -
O’Brien (66 NY2d 576, 498 NYS2d 743)
1. Value to the Holder Theory
B. Methodology
1. Baseline Earnings vs. Topline Earnings
2. Actual Earnings vs. Statistical Earnings
3. Capitalization of Differential
C. O’Brien Extended
1. Degrees
2. Other
D. Limitations
1. Hougie (261 AD2d 134 [1st Dept., 1991]) vs. Spence (287 AD2d
447 [2nd Dept., 2001])
2. Other Cases to Consider
E. Abandoned Careers and Incomplete
Courses of Study
F. Merger Doctrine Abolished
G. “Double Dipping”
1. Maintenance
2. Child Support
H. Distribution Percentages –
A Survey (Limited Discussion)
I. Legislative Change –
The Matrimonial Commission
3:00-3:15
COFFEE/SOFT DRINK BREAK
3:15-4:05
V. VALUATION OF PROFESSIONAL PRACTICES
A. Factors
1. Partner’s Capital
2. Work in Progress
3. Accounts Receivable
4. Tangible Assets
5. Goodwill
B. Method of Valuation
1. Capitalization of Excess Earnings
2. Arm’s Length Transaction
3. Restrictive Agreement
4:05 p.m.
ADJOURNMENT
Program
Faculty
Mary Ann Aiello, Esq.
Mary Ann Aiello, PC
Garden City
Harold L. Deiters III, CPA/ABV/CFF,
CFE, CFFA
Holtz Rubenstein Reminick LLP
Melville
Florence M. Fass, Esq.
Fass & Greenberg, LLP
Garden City
Stephen Gassman, Esq.
Gassman Baiamonte Betts, PC
Garden City
Bruce J. Wagner, Esq.
McNamee, Lochner, Titus & Williams, P.C.
Albany
Program Planning Committee (in alphabetical order)
Joan Casilio Adams, Esq.
J. Adams & Associates, PLLC
Williamsville
(Family Law Section CLE Committee Co-Chair)
Rosalia Baiamonte, Esq.
Gassman Baiamonte Betts, PC
Garden City
Henry S. Berman, Esq.
Berman Frucco Gouz Mitchel & Schub p.c.
White Plains
(Family Law Section CLE Committee Co-Chair)
Martin T. Johnson, Esq.
Johnson & Cohen, LLP
Pearl River
(Family Law Section CLE Committee Co-Chair)
Peter R. Stambleck, Esq.
Aronson Mayefsky & Sloan, LLP
New York City
Bruce J. Wagner, Esq.
McNamee, Lochner, Titus & Williams, P.C.
Albany
(Family Law Section CLE Committee Co-Chair)
 ELECTRONIC COURSE MATERIALS (ECM)
COURSE MATERIALS FOR NYSBA CLE PROGRAMS
ARE NOW DISTRIBUTED ELECTRONICALLY!
All program materials are distributed
exclusively online in searchable PDF format, allowing attendees more
flexibility in storing this information and allowing you to copy and
paste relevant portions of the materials for specific use in your
practice. A CLE NotePad © (paper) will be provided to all attendees
at the live program site. The CLE NotePad © includes lined pages
for taking notes on each topic, as well as any PowerPoint presentations
submitted prior to printing.
Prior to a scheduled program date, all
registrants will receive an email message containing a hyperlink that
when clicked will provide you with access to the complete course
materials in a searchable PDF format which can be downloaded to your
computer using the “Save As” option under your
“File” tab. Printing the complete materials is not required
for attending the program. Online materials are updated periodically to
reflect last minute submissions from program faculty, guaranteeing that
you will always have the latest version of the materials.
Traditional printed course books may be ordered
at the program site for a discounted price and will be shipped
subsequent to the program date.
Directions
From Eastern Long Island: Take the Long Island Expressway (495) West to
Exit 49 North (Route 110 Huntington). Stay on the Service Road and after
the second light, the hotel is on the right hand side. From Western Long
Island: Take the Long Island Expressway (495) East to Exit 49 South
(Route 110 Huntington). Make a left at the first light into Old Walt
Whitman Road. Stay on Old Walt Whitman Road and the hotel will be on the
right side. From the Northern State Parkway: Take the Northern State
Parkway to Exit 40 South (Route 110 South). Continue to the westbound
Service Road of the Long Island Expressway (495) West. Make a left onto
the Service Road and the hotel will be on your right hand side. From the
Southern State Parkway: Take the Southern State Parkway to Exit 32 North
(Route 110 Huntington) to the Service Road of the Long Island Expressway
(495) West. Make a left onto the Service Road and the hotel will be on
your right hand side. From MacArthur (Islip) Airport: Take Veterans
Memorial Highway (Junction 454) Northbound to the Long Island Expressway
(495) West to Exit 49 North (Route 110 Huntington) Continue on the
Service Road and the hotel is just past the second light on the right
hand side. From LaGuardia Airport: Take the Grand Central Parkway
Eastbound to the Northern State Parkway East to Exit 40 South (Route 110
South) Continue to the Westbound Service Road of the Long Island
Expressway (495). Make a right at the light onto the Service Road and
the hotel is on the right hand side. From JFK Airport: Take the JFK
Expressway East to the Belt Parkway East and follow the signs to the
Southern State Parkway East. Take the Southern State Parkway to Exit 32
North (Route 110 Huntington). Make a left onto the Westbound Service
Road of the Long Island Expressway (495) and the hotel will be on your
right hand side. From Newark International Airport: Take the New Jersey
Turnpike North (Route 95) to Exit 13. To the Verrazanno Bridge. From the
bridge take the Belt Parkway East to the Cross Island Parkway North to
the Long Island Expressway East to Exit 49 South (Route 110 Huntington).
Make a left at the first light, onto Old Walt Whitman Road and the hotel
will be on your right hand side. From the Verrazanno Bridge, Staten
Island, New Jersey and Brooklyn: Belt Parkway East to the Cross Island
Parkway North to the Long Island Expressway (495) to Exit 49 South
(Route 110 Huntington). Make a left at the first light onto Old Walt
Whitman Road and the hotel will be on your right hand side. From Throgs
Neck Bridge, Whitestone Bridge, Upstate NY and New England: Cross Island
Parkway South to the Long Island Expressway (495) East to Exit 49 South
(Route 110 Huntington). Make a left at the first light onto Old Walt
Whitman Road and the hotel will be on the right hand side.
The last day to pre-register online was May 8, 2013.
Members, please login to get member discounts.
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LI-Registration
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$165.00
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$265.00
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$60.00
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Accommodations for Persons with Disabilities:
NYSBA welcomes participation by individuals with disabilities. NYSBA is committed to complying with all applicable laws that prohibit discrimination against individuals on the basis of disability in the full and equal enjoyment of its goods, services, programs, activities, facilities, privileges, advantages, or accommodations. To request auxiliary aids or services or if you have any questions regarding accessibility, please
contact Cindy O'Brien at 800-582-2452 or cobrien@nysba.org.
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