How Business Valuation Impacts Estate Planning, Wealth Transfer, and Taxes | Bob Bridges Titelbild

How Business Valuation Impacts Estate Planning, Wealth Transfer, and Taxes | Bob Bridges

How Business Valuation Impacts Estate Planning, Wealth Transfer, and Taxes | Bob Bridges

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 In this episode, Matt Templeton is joined by Bob Bridges, Principal at VALUE Incorporated, for a deep dive into how business valuations actually work—and why they are foundational to estate planning, wealth transfer, charitable giving, and exit strategy decisions. Bob brings more than 20 years of experience valuing closely held businesses, partnerships, and complex assets for estate planning, mergers and acquisitions, litigation, and tax court matters. He explains why a business does not have just one value, how different valuation standards apply depending on the goal, and how discounts for lack of control and marketability are used—sometimes saving families millions when done correctly. The conversation also explores real IRS and tax court cases, common mistakes business owners make when transferring or gifting business interests, and why early coordination between valuation experts, estate planning attorneys, CPAs, and financial advisors is critical. This episode is particularly relevant for business owners whose net worth is tied up in a closely held company, families planning generational wealth transfer, and advisors working with high-net-worth clients. Show Notes & Timestamps Guest: Bob Bridges, CFA, CVA Principal, VALUE Incorporated 00:00 – Introduction Why business valuation matters in estate and wealth transfer planning. 01:00 – What Business Valuation Really Involves The real work behind valuing closely held businesses. 02:30 – Why Business Owners Need Valuations Selling, gifting, estate planning, litigation, and proactive planning. 04:00 – The Different Levels of Business Value Financial control value, marketable minority interest, non-marketable minority interest, and synergistic value. 06:30 – How Valuation Discounts Work Discounts for lack of control and lack of marketability explained. 08:30 – Valuation for Planning vs. Valuation for Sale Why the purpose of the valuation changes the approach. 10:30 – Conflicting Goals: High vs. Low Valuations Charitable gifting, estate planning, and sale considerations. 12:00 – Attorney-Client Privilege and Valuation Strategy Why estate planning attorneys often engage valuation experts directly. 14:30 – Common Estate Planning Mistakes Family Limited Partnerships that aren’t treated like real businesses. 16:30 – Preparing a Business for Sale Why management depth and employee value matter. 18:30 – Employee Value as a Hidden Asset How workforce stability contributes to enterprise value. 20:30 – Deals That Fall Apart Lessons from failed mergers, earn-outs, and poor due diligence. 22:30 – IRS Case: Donor-Advised Fund Mistakes How poor coordination led to lost charitable deductions. 25:00 – IRS Case: Power of Attorney and Control Issues Why control matters more than paperwork. 27:30 – How Legitimate Valuation Discounts Are Earned Ownership structure and control considerations. 30:00 – Family Limited Partnership Best Practices What strong FLPs do right—and where many fail. 33:00 – When Valuation Discounts Should Not Be Used Step-up basis considerations below the estate tax threshold. 35:00 – Growth, Inflation, and Estate Strategy Why growing assets are often moved outside the estate early. 37:00 – Spousal Lifetime Access Trusts (SLATs) How SLATs work in modern wealth transfer planning. 40:00 – Trust & IRS Litigation Insights from recent tax court cases. 42:30 – Building the Right Advisory Team Why valuation experts are tools—not quarterbacks. 45:00 – Final Advice for Business Owners Plan early, trust your advisors, and avoid emotional decisions. About the Guest Bob Bridges is a Principal with VALUE Incorporated and has more than 20 years of experience providing business valuation, economic analysis, and litigation support. His work spans estate and gift planning, mergers and acquisitions, charitable giving, and tax court disputes. Bob holds the Chartered Financial Analyst (CFA) and Certified Valuation Analyst (CVA) designations and currently serves as President of the Estate Planning Council of North Texas. Connect with Bob 📧 https://www.valueinc.com About the Host Matt Templeton is a Real Estate Planner and founder of Templeton Real Estate Group. He helps families and business owners navigate complex real estate and planning decisions with clarity and confidence. Through The Wealth Transfer Podcast, Matt interviews professionals who help protect, grow, and transition wealth across generations. Reach Out to Matt & the Team 📧 matt@templeton.realestate 📞 972-677-3991 If you have questions about real estate, planning, or need introductions to trusted professionals who assist with wealth preservation, growth, and transfer, Matt and his team are always happy to help.
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