Peter Galasso can make a strong argument for the proposition that he has more experience in formulating and presenting imaginative and compelling business valuation theories and opinions than virtually any other divorce attorney practicing on Long Island.
In addition to graduating Magna Cum Laude from the SUNY at Albany Business School, accumulating over 30 credits in accounting and personal and corporate tax law, and establishing Optimum Business Valuations, Inc. which he used to value businesses for transactional and estate tax purposes, Peter has published the following articles that portend to his intellectual facility managing and presenting business valuation issues.
"Valuation and Distribution in Changing Times"
Peter J. Galasso, Esq.
Joel A. Rakower, CPA
New York State Bar Association
Practicing Matrimonial and Family Law in Chaotic Economic Times Part II
This article explained how the most subjective aspect of a
business valuation methodology impacts the valuation outcome.
Author: Peter Galasso
Family Law Review
Submitted for Fall 2016 Publication
Most matrimonial practitioners confronted with a divorce case involving a complex business valuation often wisely turn to their favorite business valuator for help. While historically a business valuator could rely on a normalized five year financial look back to establish an estimate of future cash flows and, therefore, potentially opine an approximate value for a company.
Author: Peter Galasso
New York Law Journal
Copyright 2010 ALM Media Properties, LLC
Thursday, November 18, 2010
In selecting a proper valuation date for an active business asset that needs to be equitably distributed as an incident to a divorce, judges and matrimonial practitioners alike now recognize they can no longer rigidly apply archaic law to our incontrovertibly new, unpredictable and often volatile economic times. Historically, the courts applied a simple test in determining whether a particular asset should be valued as
of the date of commencement or the date of trial.
Peter has expanded by collaborating with fellow attorneys to help them manage business valuation issues in cases where they find themselves ill-equipped to handle those issues on their own. That expertise has also been frequently tested in Peter's work on business partnership dissolutions which often find the litigants as emotionally at former partners as feuding spouses are in contested matrimonials.
Peter's most recent engagement as co-counsel in a complicated Westchester matrimonial consumed about two weeks of his time examining and cross-examining forensic experts where more than $10 million separated the experts opinions. When so much is at stake, Peter's colleagues also often solicit his intervention to prepare their cross-examination when co-counselling is impracticable. The firm is fully committed to growing and expanding this area of their practice.
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