Consulting & Litigation Support

Shenehon Company has one of the strongest consulting and litigation support teams in the appraisal industry. Clients engage us on an hourly basis for individual consultation or on a fee basis for larger assignments. We provide appraisals suitable for most IRS purposes, condemnation proceedings, business damages and loss, shareholder disputes, and marital dissolutions. Over the years, we have developed and tested effective strategies for use in the courtroom setting. Our experts provide accurate and reliable representation in litigation matters.

Before accepting a litigation appraisal assignment on your behalf, your appraiser will:

• Investigate the facts and issues of the assignment.
• Research all the relevant "players" (opposing attorneys and appraisers).
• Check for conflicts of interest or past appraisals he or she has completed for the other side or the same business.
• Ask if you have a pre-established valuation agenda - such as a pre-determined value. It is possible that the appraiser may decide not to take the case. If your appraiser has to work hard to justify the concluded value to you or others, he or she will have a very hard time on the witness stand.
• Stress that even if your side holds the best hand, in litigation, you never hold all the aces. If one side were totally "pure", the matter would not be in court.
• Bring to your attention that he or she must always follow proper appraisal principles and arrive at valuation conclusions independently.
• Will outline for you his or her qualifications and limitations as well as the professional standards by which appraisers abide.
• Prepare an engagment letter outlining the scope of the assignment, the fee structure, and the estimated completion date(s).

Once you have engaged the appraiser, let him or her strategically select support staff and experts who are fully qualified in the subject area and have the potential to testify in court.

Preparing for Court - Phase I: Verbal Opinion of Value

During Phase I, your appraiser performs the necessary due diligence to arrive at a valid and supportable conclusion. The appraiser will make sure that he or she is up to speed on the appraisal issues in order to comply with the competency provision of USPAP. This is the opportunity to fine tune the appropriate methodology, identify the key issues, and understand the opposing positions or claims. Your appraiser will make sure that the valuation does not contradict any facts of the case and will interview both parties in litigation (if possible).

At the end of Phase I, the appraiser will meet with you and present a verbal summary of findings and a preliminary indication of value. If he or she cannot find the data necessary to support further action on the assignment, it is likely that the proceedings will end at this point. If the consensus is to continue, your litigation team will begin Phase II - the appraisal report which is tailored to fit the respective court system (i.e., Federal Tax Court, County Court, Divorce Court, Arbitration, etc.).

Preparing for Court - Phase II: Written Appraisal

During Phase II, the appraiser prepares and presents the appraisal report. You may request a draft of the report in order to verify that the particulars of the case are correctly and clearly laid out (land and building sizes, dates of purchase/sale, conditions, etc.). At this point, For most litigation assignments, the Complete, Self Contained Report format is required. Once the facts, numbers and value conclusion are reviewed for accuracy, the report is admitted into evidence.

Deposition & Trial

Your appraiser and your attorney act as your voice during the deposition and at trial. The purpose of a deposition is for both sides to gather information. The opposing side's litigation team interviews the appraiser in the presence of a court reporter. A copy of the transcript is sent to the appraiser who reads it, corrects any factual errors and signs off on it.

Following the deposition, both sides prepare for trial. Once again, it is your appraiser and legal counsel who prepare for testimony and cross-examination. Some cases settle quite quickly, while others go to trial. Your appraiser will keep you informed and advise you throughout the process.