What we value

  • Real estate ownership interests.
  • Family limited partnerships and limited liability companies.
  • Private notes and loans receivable.
  • Operating companies and related ownership interests.
  • Intangibles including patents, royalties, claims, etc.
Craig Stephanson CPA, CVA
President & Principal


Contact
EXPERIENCE

Craig Stephanson began his career in public accounting in 1981 at Arthur Andersen & Co. providing auditing and income tax planning services for public and private companies for five years. He then went on to serve as Chief Financial Officer for several private real estate development and investment companies within the metropolitan Washington, DC area. In 1995, Mr. Stephanson joined Valuation Services, Inc. to provide valuation and litigation support services. In 1998, Mr. Stephanson became President of Valuation Services, Inc. He is a leading expert on the formation and valuation of family limited partnerships and specializes in the valuation of real estate partnerships for estate planning and administration, succession planning, divorce proceedings, partner disputes, and litigation support. Over the years, he has published articles and books, presented, and been engaged as an Expert Witness in the areas of valuation of closely held businesses and fractional interests in closely held businesses. Mr. Stephanson is an active member of national and local valuation related professional organizations, and a member of both the Washington, DC Estate Planning Council and the Northern Virginia Estate Planning Council.

EDUCATION & CERTIFICATIONS

• Certified Valuation Analyst (CVA)
• Certified Public Accountant
• University of Richmond, B.S. in Accounting - 1981 (Magna Cum Laude)

PROFESSIONAL AFFILIATIONS

• American Institute of Certified Public Accountants
• The Institute of Business Appraisers, Inc.
• Maryland Chapter of Certified Valuation Analysts
• Virginia Society of Certified Public Accountants
• National Association of Certified Valuation Analysts (NACVA)
• Northern Virginia Estate Planning Council
• Washington, DC Estate Planning Council

LITIGATION EXPERIENCE

• American Arbitration Association
• U.S. District Court for the Eastern Division of VA
• Circuit Court for Montgomery County, MD
• U.S. District Court of the District of Columbia
• Circuit Court for Prince George's County, MD

SELECTED SPEAKING ENGAGEMENTS

• What to Look for in a Valuation Expert and How to Review Their Reports - Montgomery County Bar Association
• Family Limited Partnerships - Joint presentation with Sanford Bernstein and Company
• Valuing Family Limited Partnerships & LLC's - Shulman, Rogers, Gandal, Pordy & Ecker, P.A.
• IRS Attacks FLP's - Maryland State Chapter Meeting National Association of Certified Valuation Analysts
• Valuing Reimbursement Rights in Generational Split Dollar Arrangements - 2005 Key Advisor Symposium
• Business Valuation - Blueprint for Wealth - Radio Interview hosted by Wayne Zell AM 570 WTNT
• Guest Lecturer - Georgetown University Law School - Certificate in Wealth Planning Program

PUBLISHED WORK

• "How to Establish a Successful Family Limited Partnership" - The Practical Lawyer, September 1998
• Consultants Column, "Valuing Real Estate Ownership Interests" - Corridor Real Estate Journal, February - June 1999
• "Family Limited Partnerships" - Teaching Materials on Estate Planning, 2nd edition, Gerry W. Beyer November 1999
• "Hackl v. Commissioner - IRS Wins Round One in Court Battle Regarding Gifts of LLC Interests" - Practical Tax Strategies, February 2003
• "Family Limited Partnerships Must Jump the Section 2036 Hurdle" - Practical Tax Strategies May 2003
• “The IRS Continues to Attack Poorly Designed Family Limited Partnership - Estate of Concetta H. Rector” – Wealth Strategies Journal, October 2008 (co-authored with Jeff Bae)

 
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