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Terri A. Lastovka

CPA, JD, ASA, Appraiser
600 E. Granger Road, 2nd Floor
Cleveland, Ohio 44131

Phone: 216.661.6626
Fax: 888.236.4907

Lastovka@valueohio.com
www.valueohio.com

 Bio 

Terri A. Lastovka is the founder of Valuation & Litigation Consulting, LLC. She has been specializing in family law valuation & consulting since 1997. Terri has provided valuation and litigation advisory services for numerous purposes, including marital dissolutions, shareholder disputes, estate and gift taxation, financing, purchase and sale advisement, reasonable compensation, executive stock bonus programs, and other tax, corporate, and litigation related matters.

In addition to valuation and litigation advisory, Terri’s past experience includes consulting in the areas of business practices, financial management and tax issues, as well as collateral monitoring, business succession, and corporate financing; representation of closely-held companies before the Internal Revenue Service; and also served as Chief Financial Officer of a Chemical Distributor.

Terri has presented continuing education seminars on business valuation, financial experts, wealth transfer, equitable division in marital dissolutions and divorce tax issues. She has also published several articles on equitable division, stock options, selecting a business valuation expert, innocent spouse relief and other topics related to family law.

Terri earned her JD from Cleveland-Marshall College of Law and her BA in Accounting from Kent State University. She is an Accredited Senior Appraiser through the American Society of Appraisers, a Certified Public Accountant licensed in the state of Ohio, an Attorney licensed in the state of Ohio, and a Commercial Arbitrator trained through the American Arbitration Association. Terri is not only a member of, but involved in numerous professional organization, including the American Society of Appraisers, Ohio Bar Association, Cleveland Metropolitan Bar Association, Lorain County Bar Association, Akron Bar Association, Center for Principled Family Advocacy, Cleveland Academy of Collaborative Professionals, and the International Academy of Collaborative Professionals. Terri also sits on the Board of Directors for Journey of Hope, a non-profit organization providing financial support to cancer patients as well as the Board of Trustees of the Center for Principled Family Advocacy.

Terri has been working within the collaborative community for over six year helping families work through the financial issues of their marital dissolution. With her valuation of the business and assisting with financial discovery, organization of finances, determination of living expenses, development of budgets, and assessment of tax implications of decisions, divorcing couples are able to make more informed decisions with a greater sense of control of the situation and a more clear view of their financial future.

Professional Credentials/Memberships

• Accredited Senior Appraiser, American Society of Appraisers, 2004 • Attorney Registration, Supreme Court of Ohio, 1996 • Juris Doctor, Cleveland-Marshall College of Law, 1995 • CPA license with the Ohio Accountancy Board, 1989 • Member of the Ohio Bar Association • Member of the Cleveland Metropolitan Bar Association, Family Law Section • Member of the Lorain County Bar Association, Domestic Relations Section • Member of the Akron Bar Association, Family Law Section • Member of the Center for Principled Family Advocacy, Board of Trustees • Member of the Cleveland Academy of Collaborative Professionals

Professional Experience

• Valuation engagements and litigation consulting relating to shareholder disputes, lost profits, economic damages, sales and acquisitions of companies, estate planning and domestic relation matters • Court appointed receiver for the Cuyahoga County Court of Common Pleas, Domestic Relations Division • Court appointed Guardian ad Litem for the Cuyahoga County Court of Common Pleas, Domestic Relations Division • Financial neutral relating to marital dissolution • Consulting in the areas of business practices, financial considerations and tax issues as well as collateral monitoring, business succession, and corporate financing • Representation of closely-held companies before the Internal Revenue Service • Responsible for all financial, tax and personnel functions for a chemical distributor

Employment History

• Managing Director, Valuation & Litigation Consulting, LLC, 2007 to present • Manager, Stout Risius Ross, Inc., 2005 to 2007 • Associate, Hillow Getsay & Connors Ltd., 2003 through 2005 • Manager, Business Valuations and Litigation Support, Zinner & Co. LLP, 2000 through 2003 • Manager, Klinc & Associates LLC, 1999 through 2000 • Analyst in Business Valuations and Litigation Advisory Services, CBIZ, 1998 through 1999 • Chief Financial Officer, Dar-Tech, Inc., 1995 through 1998 • Accountant, Barnes Wendling Cook & O’Connor, Inc., 1990 through 1995 • Asset Based Lending Field Examiner, Ameritrust Company, N.A., 1989 through 1990 • Accountant, Hausser & Taylor, CPAs, 1987 through 1989

Specialized Training

• Expedited Commercial Panel Arbitrator Training; American Arbitration Association, 2009 • Ohio Guardian ad Litem Program Pre-Service Course, Supreme Court of Ohio Judicial College, 2009 • Financial Issues in Divorce Mediation, Supreme Court of Ohio Judicial College, 2009 • Business Valuation and Divorce, American Society of Appraisers, 2008 • International Appraisal Conference, American Society of Appraisers, 2008 • Interdisciplinary Collaborative Family Law, 2008 • Collaborative Family Law, Basic and Advanced, 2007 • National Conference on Divorce, AICPA/AAML, 2006 • National Business Valuation Conference, ASA/AICPA, 2005 • Advanced Business Valuation Conference, American Society of Appraisers, 2004 • Black-Scholes Valuations for Stock Options, Economic Research Institute, 2004 • Valuation of Family Limited Partnerships, Center for Advanced Valuation Studies, American Society of Appraisers, 2003 • International Appraisal Conference, American Society of Appraisers, 2002 • Business Valuation Parts I, II, III and IV, American Society of Appraisers, 1998 through 2000 • Statistics for Managers, Graduate Studies, Cleveland State University, 1999 • Advanced Theory and Applications of Business Valuations, Institute of Business Appraisers, 1998 • Uniform Standards of Professional Appraisal Practice, American Society of Appraisers, 1998

Testimony Experience

• Susan M. Harper v. David W. Harper et.al, Court of Common Pleas, County of Cuyahoga, Ohio, 2010 • Sharon F. Obrin v. James G. Obrin Jr., Court of Common Pleas, County of Cuyahoga, Ohio, 2009 • Susan Elioff v. Peter Elioff, Court of Common Pleas, County of Medina, Ohio, 2008 • Kyra A. DiBiase v. Paul A. DiBiase Jr., Court of Common Pleas, County of Jefferson, Ohio, 2006 • Susan A. Carney v. Joseph D. Carney, Court of Common Pleas, County of Lorain, Ohio, 2006 • Karen Ann Ozog v. Thomas A. Ozog, Court of Common Pleas, County of Cuyahoga, Ohio, 2006 • Donald Jasensky v. Mary Jasensky, Court of Common Pleas, County of Lorain, Ohio, 2005 • James P. Gray v. Jet, Inc., Court of Common Pleas, County of Cuyahoga, Ohio, 2003 • Christian Kainrad v. Lisa Kainrad, Court of Common Pleas, County of Portage, Ohio, 2000

Publications

• “Dependency Exemptions – Who is Entitled?” Bar Journal of the Cleveland Metropolitan Bar Association, Vol. 2 No. 7, February 2010 • “Family Support” Domestic Relations Journal of Ohio, July/August 2007, Volume 19, Issue 4 • “Legal Fees – Are they Deductible?” Domestic Relations Journal of Ohio, May/June 2007, Volume 19, Issue 3 • “Invisible Income” Domestic Relations Journal of Ohio, May/June 2006, Volume 18, Issue 3 • “Appraising a business – Ethics and Standards are in the Mix” Business Law Today, January/February 2006, Volume 15, No. 3 • “Tax Relief for an Innocent Spouse” Domestic Relations Journal of Ohio, July/Aug 2005, Volume 17, Issue 4 • “Equitable Division in Ohio: The business portion of property settlements:” Domestic Relations Journal of Ohio, September/October 2004, Volume 16, Issue 5 • “Stock Options and Divorce”, Law and Fact, September 2000

Speeches and Seminars

• “Valuation Discounts: What’s New?” presented to the Cleveland Society for Financial Service Professionals on September 16, 2009 • “Divorce and Estate Planning,” presented at Smith & Condeni Annual Estate Planning Conference on October 10, 2008 • “A Primer on Business Valuations,” presented to CPCU Cleveland Chapter on September 12, 2006 • “Valuations and Using Tax Returns to Find Income in Domestic Relations Cases,” presented to the Geauga County Bar Association, September 8, 2006 • “Income – Do Tax Returns Tell All?” presented to the Akron Bar Association – Family Law Section, April 4, 2006 • “Fundamentals of Divorce-Related Valuation/Consulting Engagements, Effective Use of Financial Experts, and Income – Do Tax Returns Tell All?” presented to the Lorain County Bar Association, sponsored by the Family Law Section, March 24, 2006. • “Equitable Division in Ohio,” presented to the Akron Bar Association – Family Law Section, March 1, 2005 • “The Effective Use of Financial Experts,” presented to the Center for Principled Family Advocacy, November 11, 2004 • “A Business Owner’s Life in Transition”, presented to Sagemark Consulting, May 13, 2002 • “Business Valuations – What is it worth and why do you want to know?” presented to the Cleveland Association of Insurance and Financial Advisors, April 10, 2002


 

 
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