Continuing Legal Education

SETTLE IT! Resolving Financial Family Law Conundrums

November 14, 2013
8:20 a.m. – 4:45 p.m.
7.00 MCLE hours, including 7.00 approved Professional Responsibility MCLE credit hours
Presented by Alternative Dispute Resolution and Family Law

Chicago
ISBA Chicago Regional Office
20 S. Clark Street, Suite 900
(map and directions)


Learn how to value your case for settlement purposes and resolve the complex double-count conundrum when determining maintenance and equitable asset division in family law cases!


It is important for family law practitioners to understand what the “value” of a private company really means and how value and income from the same source can sometimes be “double-dipping” to the detriment of one of the parties. Attorneys attending this seminar with intermediate to advanced practice experience will better understand:

  • The financial implications of the privately-held business value, professional corporations and earnings which, in many cases, may be the single largest asset and income source to the marital partnership;
  • What “true” or “economic” income really is and how sometimes forensic accounting techniques must be used to determine income;
  • The tax impact of proposed settlements;
  • How valuation experts can be used in the divorce process to achieve successful settlements and, ultimately, how the expert persuasively presents their conclusions and opinions to the mediator/arbitrator or both lawyers as a “neutral” expert to achieve settlement;
  • How to determine the value of your case so that settlement negotiations are meaningful and reach a fair and equitable resolution; and
  • Much more!
Please Note: Prior to the program, you will receive a weblink via email allowing you to access the course materials prior to the program. You will also receive a copy of the course materials (for no additional charge) when you arrive at the program, but will need to check the appropriate box on the registration page letting us know if you prefer a flash drive or printed course book.

 Program Coordinator/Moderator:
Pamela J. Kuzniar, Esq., Private Practice, Chicago

 

Agenda

8:20 – 8:30 a.m.  Welcome and Introductions

8:30 – 10:30 a.m.  Divorce Settlement Issues involving Dental Practices and Medical Practices*
Join us as an experience family law practitioner and valuation expert analyze the issues faced by attorneys in determining the value of the marital estate, property division, and maintenance/support when the major family asset is a healthcare practice. A look at the different methods for computing valuation when a practice is comprised of personal goodwill and enterprise goodwill is also included.
Howard W. Feldman, Feldman, Wasser, Draper & Cox, Springfield
Joseph Modica, Joseph Modica & Associates, Ltd., Mundelein

10:30 – 10:45 a.m.  Break (beverages provided)

10:45 a.m. – 12:45 p.m.  Divorce Settlement Issues involving A Corporation, Law Practice, and Real Estate Developer*
This segment explores the issues faced by family law practitioners when trying to determine the value of the marital estate when the major family asset is a private corporation, law practice, or real estate development company. The speakers’ analysis includes a demonstrative business valuation for each scenario. Topics include: addressing market valuation vs. double counting income equitably distributed as marital property when determining maintenance; understanding the tax implications on support awards and property division; and the impact of retained earnings on both value and maintenance/support calculations.
James M. Godbout, Stout Risius Ross, Inc., Chicago
Matthew A. Kirsh, Law Offices of Matthew A. Kirsh, Ltd., Chicago

12:45 – 1:30 p.m.  Lunch Served (provided)

1:30 – 2:30 p.m.  Executive Compensation*
Gain a better understanding of what a family law practitioner faces when resolving property division and support associated with employees whose compensation includes perquisites, reimbursements, top hat plans, expenses, stock options, restricted stock, qualified plans, and unqualified retirement plans. Additional topics include: valuation issues, restricted removal, ethical settlement techniques, and draft language for settlement provisions.
Robert E. Wells, Jr., Pessin, Baird, & Wells, Belleville

2:30 – 3:30 p.m.  Alternative Dispute Resolution: A Panel Presentation*
Don’t miss this discussion on settlement resolution, including how alternative dispute resolution can be used to resolve complex financial issues. Additional topics include ethical practice issues and the necessary settlement language needed to help resolve complex financial conundrums.
Robert E. Wells, Jr., Pessin, Baird, & Wells, Belleville
Hon. Charles Winkler (ret.), Mediator/Arbitrator, North Riverside

3:30 – 3:45 p.m.  Break (refreshments provided)

3:45 – 4:45 p.m.  Help Me Help You: Before the Eve of the Trial*
A pretrial conference is designed to facilitate settlement before a case goes to trial – making it a crucial part of the legal process. As such, it is essential for attorneys to understand what is expected at the pretrial conference. Don’t miss this interactive discussion that examines the essential elements of a successful pretrial conference.
Hon. Grace G. Dickler, Cook County Circuit Court, Chicago
Hon. Timothy J. McJoynt, DuPage County Courthouse, Wheaton
Hon. Brian R. McKillip, Eighteenth Judicial Circuit Court, Wheaton
Hon. Jeanne M. Reynolds, Cook County Circuit Court, Skokie