Due to the growing demand and a business plan based upon having a complete menu of valuation services, GAR Associates has begun offering business valuation services to new and existing customers.

In WNY, until now, an attorney settling an estate involving a business generally had to engage two firms to perform the necessary valuation work.  Now attorneys (and business owners) can get both appraisals completed by dealing with a firm that concentrates all of its resources in the valuation field.

As an offset to this work effort, which involves such property types as hotels and nursing homes, we have initiated a business valuation component.

Some of the reasons that business valuations are needed include:

• FASB 141 and FASB 142 valuations of assets purchased in business acquisitions
• Estate planning for orderly transfer of a family business, including tax planning, estate settlement and divorce settlement
• Strategic planning geared to maximizing the future value of the business
• Determination of a buyout value of a shareholder, where there are several shareholders in an illiquid stock

Franz H. Ross joined GAR Associates, Inc. in April 2002, and has been developing this segment of our business.  It is felt that this is a natural overflow from our commercial valuation work, and Franz has completed the requirements of the Institute of Business Appraisers (IBA).

For additional documentation, please contact Franz H. Ross at (716) 691-7100 Ext. 3040 or fross@garappraisal.com.