What's It Worth

Sometimes, an individual or business needs help to determine the value of something. How much is someone's ownership in a business worth? How much is a patent worth or a business' good will?

RM Wolff, LLC can answer those questions.

Laroy Wolff, the company's member in charge of proessional services, explains that the majority of such valuation work is either tax-motivated or related to litigation (such as divorce proceedings or business matters).

"Intellectual property and intangible assets are growing dramatically in this country," Wolff explains.

"Another huge trend related to valuations will soon change the face of financial statements more dramatically than anything we've ever seen," he continues.

"Generally accepted accounting principles are shifting away from measuring assets and liabilities in terms of historic costs. Going forward, a significant number of item will be measured in terms of current value, a much more subjective and difficut number to attain. I project tremendous growth in valuation work and much more interaction with auditors."

Headquartered in Nashville, RM Wolff was launched in January 2007 to offer business valuations, litigation support and investigative accounting services. Clients include national, regional and local law firms; CPA firms; insurance companies; governmental agencies; closely-held businesses; estates; trusts; songwriters; artists; courts; limited liability companies; limited partnerships; general partnerships; and corporations.

Wolff points out another growth area for the company; alternative dispute resolution in the form of arbitration or mediation prior to litigation. He recently completed training as a civil mediator in Tennessee to help facilitate that service.

Wolff notes that the company has already assembled one of the strongest forensic accounting teams in the state. He has personally been engaged in the field since 1989. RM Wolff is often appointed by the courts as a special master and/or expert status.

"Because of our great reputation in valuations and investigative accounting, we've been appointed by the courts to provide expert testimony. We take extreme pride in these engagements, because the reflect confidence in our objectivity," Wolff says.