In her will, American businesswoman Leona Helmsley left $12 million in a trust fund to her dog Trouble (who died four years after she did). Helmsley’s four executors were responsible for seeing that her wishes were carried out. Tip: Generally, children under the age of 18 cannot be executors. — Source: USA.gov Fast Fact: Michael…

When a business is sold, it often sells for more (or less) than the appraised value. This may come as a surprise to laypeople, but valuators understand that there are many valid reasons that “price” and “value” may differ. Businesses that understand this subtlety are better positioned to make informed decisions. Price vs. Value Price is specific…

There are three approaches to valuing a business: the cost, market and income approaches. In this article, we focus on the market approach, which the International Glossary of Business Valuation Terms defines as: A general way of determining a value indication of a business, business ownership interest, security, or intangible asset by using one or…