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Business Valuations in Divorce 2022: New and Future Issues – The Lasting Impact of COVID-19

Thank you

January 17, 2022
Program Moderator: Bruce L. Richman, CPA/ABV, CVA, CFF, CFE, CDFA, CPEP


Welcoming Announcements

A View from the Bench

Hon. Grace Dickler, Presiding Circuit Judge, Domestic Relations Division Circuit Court of Cook County, Chicago

Case Law Update
We address our 2021 financial caselaw since our last seminar regarding child support, maintenance and property cases. These include the ever-important imputing income for support and maintenance topic, foreseeability for modification purposes,
Joshua T. Friedman, Davis Friedman LLP, Chicago
Gunnar J. Gitlin, Gitlin Law Firm, Woodstock

Advising Clients on New Administration and Expected Changes
After a year with the Biden-Harris Administration, what changes can we expect that will impact the financial implications of divorce – from changes in our federal tax structure to impacts on business and the value of closely held companies and the significant changes to Estate taxes.
Charles T. Parks, Jr., Faegre Drinker Biddle & Reath LLP, Minneapolis

Cash Businesses / Finding Hidden Assets / Discovery + Valuation Issues
In our complex financial world, as the scene from Jerry Maguire “show me the money” we are constantly asked to find the hidden assets and trace the flow of cash. This also becomes important in closely held businesses that are considered “cash businesses.” This session will provide a discussion on techniques and how to shape your discovery requests in these situations and the impact on the valuation of ones’ business.
Bruce L. Richman, CPA/ABV, CVA, CFF, CFE, CDFA, CPEP, Valuation & Forensic Advisors, Chicago
Ron Braver, CPA, CFE, CAMS, Ron Braver and Associates, LLC, Chicago, IL

What Constitutes a Substantial Change in Circumstances?
John M. D’Arco, Beermann LLP, Chicago
Michael F. Koenigsberger, Dussias Wittenberg Koenigsberger LLP, Chicago

Top 10 Drafting Tips for Qualified Domestic Relations Orders
Learn top drafting tips for Qualified Domestic Relations Orders (QDROs) and how to apply those tips to your practice.
Anne Prenner Schmidt, The Law Offices of Anne Schmidt, LLC, Highland Park

Utilization of Zoom in the Practice
(0.5 professional responsibility)
Given the changing world this past year with COVID-19, Zoom and other forms of online communication platforms are integral practice tools. As the courts are using Zoom for hearings and motions as lawyers use this tool for depositions and client meetings, we need to get beyond the basics and utilize these tolls to their maximum benefit. Discuss and update the current technology available and a viewpoint from the bench will be provided.
Kelly Collins, Collins Family Law, LLC, Lake Forrest
Valerie Steiner, Clark & Steiner, Ltd.,Lake Forrest

Taming Transmutation 2022
Beyond the nuts and bolts: The underlying principles of 503 (classification, transmutation, reimbursement).
Steve Peskind, Peskind Law Firm, Chicago

Crypto Currency: What, Where, & How is it Evaluated in Divorce?
Cryptocurrency is going mainstream and made its debut on the NYSE in October 2021. Do you really know what Cryptocurrency is? What are the documents we should be requesting in discovery? What are the questions we should be asking? What is the future of Crypto?
Gemma Allen, Allen & Glassman Chartered, Chicago
Paul Sibenik, CipherBlade, Vancouver

Grey Divorce
A discussion on issues ranging from double dipping, and whether pension benefits in long term marriages are cash flow or an asset (or both).
Brigitte Bell, Brigitte Schmidt Bell, P.C.,Chicago
Janet Boyle, Family Law Solutions P.C., Chicago

Annual Judges Panel
(1.0 professional responsibility)
Local judges offer practice tips and provide unique insights on your questions.
Hon. William Stewart Boyd, Illinois Circuit Court of Cook County, Chicago
Hon. Richard Felice, 18th Judicial Circuit Court, Wheaton
Hon. Jeffrey L. Hirsch, 22nd Judicial Circuit, Woodstock

Panel Moderators:
Jennifer M. Cohen, Kalcheim Haber, LLC, Chicago
Judd Fineberg, Dussias Wittenberg Koenigsberger LLP, Chicago

Description

January 17, 2022
Live Webcast

Program Moderator: Bruce L. Richman, CPA/ABV, CVA, CFF, CFE, CDFA, CPEP


8:35 – 8:40 Welcoming Announcements

8:40 – 8:50 A View from the Bench
Hon. Grace Dickler, Presiding Circuit Judge, Domestic Relations Division
Circuit Court of Cook County, Chicago

8:50 – 9:00 Break

9:00 – 9:45 Case Law Update
We address our 2021 financial caselaw since our last seminar regarding child support, maintenance and property cases. These include the ever-important imputing income for support and maintenance topic, foreseeability for modification purposes,
Joshua T. Friedman, Davis Friedman LLP, Chicago&
Gunnar J. Gitlin, Gitlin Law Firm, Woodstock&

9:45 – 9:55 Break

9:55 -10:25 Advising Clients on New Administration and Expected Changes
After a year with the Biden-Harris Administration, what changes can we expect that will impact the financial implications of divorce – from changes in our federal tax structure to impacts on business and the value of closely held companies and the significant changes to Estate taxes.
Charles T. Parks, Jr., Faegre Drinker Biddle & Reath LLP, Minneapolis

10:25 – 10:35 Break

10:35 – 11:20 Cash Businesses / Finding Hidden Assets / Discovery + Valuation Issues
In our complex financial world, as the scene from Jerry Maguire “show me the money” we are constantly asked to find the hidden assets and trace the flow of cash. This also becomes important in closely held businesses that are considered “cash businesses.” This session will provide a discussion on techniques and how to shape your discovery requests in these situations and the impact on the valuation of ones’ business.
Bruce L. Richman, CPA/ABV, CVA, CFF, CFE, CDFA, CPEP, Valuation & Forensic Advisors, Chicago&
Ron Braver, CPA, CFE, CAMS, Ron Braver and Associates, LLC, Chicago, IL

11:20 – 11:30 Break

11:30 - 12:15 What Constitutes a Substantial Change in Circumstances?
John M. D’Arco, Beermann LLP, Chicago
Michael F. Koenigsberger,
Dussias Wittenberg Koenigsberger LLP, Chicago

12:15 – 12:30 Presentation of Awards
Michael Cohen Award & Annual Family Lawyer Lifetime Achievement Award

12:30 - 12:45 Lunch Break
Top 10 Drafting Tips for Qualified Domestic Relations OrdersLearn top drafting tips for Qualified Domestic Relations Orders (QDROs) and how to apply those tips to your practice.
Anne Prenner Schmidt, The Law Offices of Anne Schmidt, LLC, Highland Park

12:45 – 12:55 Break

12:55 – 1:25 Utilization of Zoom in the Practice
(0.5 professional responsibility)
Given the changing world this past year with COVID-19, Zoom and other forms of online communication platforms are integral practice tools. As the courts are using Zoom for hearings and motions as lawyers use this tool for depositions and client meetings, we need to get beyond the basics and utilize these tolls to their maximum benefit. Discuss and update the current technology available and a viewpoint from the bench will be provided.
Kelly Collins, Collins Family Law, LLC, Lake Forrest
Valerie Steiner, Clark & Steiner, Ltd., Lake Forrest

1:25 – 1:35 Break

1:35 – 2:05 Taming Transmutation 2022
Beyond the nuts and bolts: The underlying principles of 503 (classification, transmutation, reimbursement).
Steve Peskind, Peskind Law Firm, Chicago

2:05 – 2:15 Break

2:15 – 3:00 Crypto Currency: What, Where, & How is it Evaluated in Divorce?
Cryptocurrency is going mainstream and made its debut on the NYSE in October 2021. Do you really know what Cryptocurrency is? What are the documents we should be requesting in discovery? What are the questions we should be asking? What is the future of Crypto?
Gemma Allen, Allen & Glassman Chartered, Chicago
Paul Sibenik, CipherBlade, Vancouver

3:00 – 3:10 Break

3:10 – 3:40 Grey Divorce
A discussion on issues ranging from double dipping, and whether pension benefits in long term marriages are cash flow or an asset (or both).
Brigitte Bell, Brigitte Schmidt Bell, P.C. Chicago
Janet Boyle, Family Law Solutions P.C., Chicago

3:40 – 3:50 Break

3:50 – 4:50 Annual Judges Panel
(1.0 professional responsibility)Local judges offer practice tips and provide unique insights on your questions
Hon. William Stewart Boyd, Illinois Circuit Court of Cook County, Chicago
Hon. Richard Felice, 18th Judicial Circuit Court, Wheaton
Hon. Jeffrey L. Hirsch, 22nd Judicial Circuit, Woodstock

Panel Moderators:
Jennifer M. Cohen, Kalcheim Haber, LLC, Chicago
Judd Fineberg, Dussias Wittenberg Koenigsberger LLP, Chicago

4:50 Adjourn

January 17, 2022
Mon 8:50 AM CST

Duration 7H 10M

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