ESTATE PLANNING COUNCIL OF SAN BERNARDINO COUNTY

John Glenn and Brad Cashion of the Mentor Group will discuss how valuation discounts for the lack of control and the lack of marketability related to minority interests held in entities and undivided fractional interests held in real estate in the gift and estate tax planning area have evolved over time as the IRS and the courts have changed their views and how valuation companies, attorneys and accountants have responded thereto. This discussion will include specific case studies which have involved both first and second death Estate Tax filings, multi-level discounts, valuing entities that hold both real estate and marketable securities, or those that hold only marketable securities, and other related issues. The presentation will also include a brief discussion on valuations for charitable giving purposes and valuing life insurance policies, as well as other topical valuation related issues. Mr. Glenn, President of The Mentor Group, Inc., has extensive experience with the accounting, tax, and financial aspects of business valuations and acquisitions. Nationally recognized, and in his thirtieth year in the valuation industry, he has frequently lectured and written on numerous technical valuation issues. He has extensive experience in valuation engagements that have included family limited partnership valuations, LLCs, and Discount Valuations of minority interests in entities and fractional interests held in real estate, along with all other areas of valuations. As most of you know, John has been an active member of the San Bernardino EPC, the Riverside EPC and the Desert EPC for many years. Mr. Brad Cashion has been a managing director with The Mentor Group since 1994, and he heads up the financial valuation group for the firm. Mr. Cashion specializes in developing and implementing valuation models for estate and gift taxation; Charitable Contributions; litigation; pre and post bankruptcy plans; tax agency negotiations; mergers and acquisitions; and IPO's. He is a graduate of USC business school and has his CFA credential from the CFA Institute. He is a member of the American Society of Appraisers, The Institute of Business Appraisers, The Association for Corporate Growth, and has been an active member of various estate planning councils. In 2008 alone, Mr. Cashion opined to values for businesses in excess of $9 Billion Dollars.