Understanding Business Valuations for Trust and Estate Purposes

Understanding Business Valuations for Trust and Estate Purposes

Closely held business interests frequently represent the most significant and complex asset within a high-net-worth estate. Unlike publicly traded securities, their value is not readily observable — and for estate planning, gifting strategies, and generational wealth transfers, an accurate, well-documented valuation is often central to the entire planning process.  For estate planning attorneys, tax…
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Strategic Considerations for Solvency Opinions: in Leveraged Transactions

Strategic Considerations for Solvency Opinions: in Leveraged Transactions

Introduction  In leveraged transactions and dividend recapitalizations, the focus is often on valuation, deal structure, and financing terms. Yet one of the most consequential questions frequently receives less attention during the excitement of execution: Will the company remain solvent after the transaction closes?  In today’s environment of elevated leverage levels, volatile markets,…
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Fairness Opinions: When They Matter and Why

Fairness Opinions: When They Matter and Why

Three weeks before a board vote on a management-led buyout. The terms are reasonable. Management has been transparent. Then board counsel asks the question that changes everything: "Do we need a fairness opinion?"  The answer isn't obvious, and it matters more than most boards realize. Not because fairness opinions are required by…
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Unlocking the QSBS Advantage: 2026 Update to Section 1202 Planning Guide   

Unlocking the QSBS Advantage: 2026 Update to Section 1202 Planning Guide   

Recent legislative changes have significantly expanded the economic impact of Qualified Small Business Stock (QSBS) for stock issued on or after July 4, 2025. While Section 1202 has existed for decades, the post‑2025 regime introduces greater flexibility, higher exclusion limits, and broader issuer eligibility, while materially increasing complexity, documentation requirements, and…
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Best Practices for Year-End Audit Preparation for your Investment Fund

Best Practices for Year-End Audit Preparation for your Investment Fund

Authored by Monica Blocker, Director, Houlihan Capital & Herbert M. Chain, CPA, Director, CBIZ Advisors  As the year-end audit season approaches, proactive planning for the annual financial statement audit is essential. The audit process can be complex and demanding, but with careful preparation, your investment firm can not only meet reporting deadlines, but also make the process less “painless”. Below are practical insights and strategies to help you lay the…
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