Many attorneys and lawyers always want to know: Do I need a CPA or Certified Public Accountant when searching for a valuation expert? Well the answer is yes and no.

A CPA is definitely skilled in preparing tax returns and auditing the financials of a company — so Yes they are experts at accounting, but unless they have prior experience valuing businesses, they may not be the right fit. When seeking a valuation expert to provide expert witness testimony in court — you may want to seek out someone with credentials in business valuations and someone with experience in court.

In order for a person to be accredited in business valuations, they typically have to complete an application process, have a significant amount of experience valuing companies, have certain education requirements, submit a peer reviewed valuation report, have several collegues write recommendations and then make sure they attend classes or conferences every year to keep up with the valuation industry.

There are many financial and accounting experts who are skilled at financial analysis and critical thinking, but finding a person who understands the nuances of business valuations and testifying in court may be of more value. If the litigation is regarding the value of a company for lost profits, divorce or partnership disputes you should work with someone who is skilled in those areas.

No matter what type of valuation expert you choose, make sure you work with someone who is credible, experienced and understands valuation methodology.

If you would like to learn more about business valuations, how to value a company for commercial litigaton, family law or divorce, or how to find a qualified valuation appraiser – check out our additional videos at
http://www.YouTube.com/businessvaluationstl

or CLICK HERE for our website.

A wail of pain, a cry of hurt, urging me silently to pick her up, knowing deep down that I mustn’t conform; leaving me lost, alone, hurt, knowing I cannot comfort my sister. Only 7 feet away, sitting wrapped in a sinners arm, she sits crying, wailing for the loss that she is receiving. Paying the price, 50 years, for the mess he created years ago, her dad sits, leaving his four kids behind to figure out their own life, to continue in a world so vast, so evil, alone.  Bubbling inside of me a temptation is forming, encouraging me to walk the 7 feet, pick her up, walk back, and comfort her just as I once did.

Knowing with every fiber of my being that I have to withhold the need to comfort them, the four little girls I once raised as my own, I sit silently crying knowing the pain in their hearts. Surrounded by a family who so graciously took me in, I so desperately want to be back in the family I always knew, the family I raised, surrendering my own childhood. Sitting there, only 7 feet away, I listen to them cry, observe them hurt, and watch as they slowly fall apart, not knowing what else to do. Telling myself over and over that they will be OK  I turn my head and cry some more, willing myself to go into a state of numbness, all to sit through this painstaking 2 hours.

Walking out, surrounded, the floor gets closer. I look around and there she is, anger filled eyes, ready to kill. Her cries, not withheld, rigid and  tempt, asking for their jointed wails. Murder in their deafening scream, marking my days, my body goes weak and I’m out the door. Numbness runs rampant, jolting my body into another world.

The Judge will watch you, the court reporter, court clerk, bailiff, your soon to be ex, not to mention anyone interested in watching a trial that day (divorce are public in Minnesota) and I haven’t’ even gotten to what it’s like testifying! Here are some tips I’ve accumulated over the years:

1. Practice, practice practice. In the mirror, in the shower, driving, there is no substitute for running through what will be said and how you will say it. Say it out loud, as you driving and don’t worry if the cars next to you think you’re crazy.
2. Before you answer, take a breath. When you get asked a question, listen and take a breath. This breath will allow you the moment you need to be sure you understand what the lawyer is asking.
3. If you don’ understand the question, say “I don’t understand the question.” Never guess at an answer, don’t start out with “If I had to guess” but make sure you know exactly what the question is. If you don’t know what the lawyer is asking…how can you answer it?
4. Don’t argue with the lawyer. Here’s a news flash, lawyers are paid (and usually quite well) to argue for a living. Think about that a moment. You are an amateur, you don’t hold your PGA tour card and you are about to go play around of golf against..well, maybe not Tiger Woods but against Phil Mickelson. You can’t win the argument and even more importantly, you don’t even know the rules of the argument (called the rules of evidence). So, give up your dream of showing that jerk of a lawyer who’s boss, because everyone already knows and it’s not you.
5. Don’t use crutch words. Don’t say phrases like I think, I believe, If I had to guess, Probably, maybe…etc.these are crutch words. You are afraid of committing to an answer and giving the impression to the Judge that you aren’t quite sure what the answer is.
6. When you are done with answer, stay done. Many times people will give an answer, but then start talking again! For God’s sake, if you answered the question be quiet and wait for the next question. Nothing says I’m lying like babbling on like a fool as everyone watches.
7. If you don’t know the answer say “I Don’t Know”. If you know truly don’t know don’t guess!! You’re not expected to know every fact.
8. Ask Your Lawyer to Video Tape Your Practice Session. This is not always done, but if you are really getting nervous, sleepless nights, etc. ask your lawyer to videotape you while you prep for the trial and watch it, you do this once or twice and you’ll see your nervous habits.

There you go, 8 tips on how you can do well at your divorce trial. It’s scary, but you’ll get through it, many have before you and will after you.

Thanks for reading my latest Mankato Family Law Blog post, any comments or questions feel free to post them below or email me directly at Jkohlmeyer@rokolaw.com

Jason Kohlmeyer
Rosengren Kohlmeyer, Law Office Chtd.
Mankato, Minnesota
507-625-5000
www.RokoLaw.com

Remember I’m not giving any one legal advice, this is just an informational blog that hopefully will answer some basic questions and lead you to call an experienced Minnesota Divorce Lawyer.

You cannot be afraid or intimidated by the process or you are
doomed to fail.

You have to ask yourself: (1) are you afraid to accept the
engagement, (2) are you comfortable tesifying in court, (3)
if retained by the out-spouse’s attorney, are you able to wait
to being paid, (4) are you qualified to critique opposing expert’s
valuation, and (5) will your present workload allow you to
prepare the valuation by the trial date???

You must be able to request the documents required to perform
a valuation. And, you must be able to request additional
information when needed.

Remember that when working with the in-spouse (the business
owner) you will usually get a lot of cooperation, BUT when
hired by the out-spouse’s attorney you may expect less
cooperation which will make the engagement a little more
difficult.

Selling Point: If both spouses are in reasonable sync try selling
the aspect that they both agree to your calculation of value
thereby saving the couple money, time and anguish over the
process.

BEWARE: Some attorneys are very “pushy” and will try to exert
a lot of pressure for you to provide a valuation to their liking.

Do not fall into this trap!!! You are and should be an advocate
for ONLY your opinion of value; nothing more or less.

Ask for an interview with the in-spouse and management and
a site visit where practical. This will be very telling and
helpful to the process.

No matter how many times you read your report you will never
be able to anticipate the challenges to your work. You must
know your report thoroughly and be able to speak in an easy
manner about the specifics of the report. An attorney will ask
a lot of hypothetical questions in order to “cross you up.” Just
smile and say that, “If your hypothetical scenario had supporting
information or documents it would have been in my report.”

Remember Its Your:
Education,
Experience,
Credentials, and
Certifications

that give credence to you being an EXPERT!!!

Have at IT !!