Justin L. Cherfoli serves as the national practice leader for the firm's Valuation Disputes/Family Law group. Since 2000, Justin has served as an expert witness or consultant in matters involving business valuation, economic damages, and forensic accounting for numerous purposes including marital dissolutions, shareholder disputes, commercial litigation, estate and gift taxation, financing, purchase and sale advisement, intellectual property valuations, reasonable compensation, and other tax, corporate, and litigation related matters. Additionally, Justin has been actively involved in providing a broad range of financial advice to trial lawyers throughout the dispute process, including matters involving economic damage analysis, diminution in business value, breach of contract, financial modeling, forensic accounting, fraud examinations, and disputes related to business transactions. Justin also serves as a court-appointed and/or mutually agreed-upon financial expert in shareholder disputes and divorce matters.
Justin was a chapter author to the chapters entitled “Valuation in Marital Dissolution” and “Valuation in Shareholder and Partner Disputes” in Business Valuation, published by the Law Journal Press, a division of ALM Media Properties, LLC. He was also a contributing author to the chapter entitled “Valuation Nuances in Litigation” in Business Valuation: A Primer for the Legal Professional, published by the Business Law Section of the American Bar Association. Justin has presented continuing education seminars on business valuation, lost profits, stock options, understanding tax returns, and tools for improving management decision-making. He has also published several articles on stock options, valuation and other related topics.
Prior to joining Stout, Justin was with Ernst & Young, LLP in its Assurance and Advisory Business Services Group in Detroit.
Select Publications
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Michigan Family Law Journal & AAML Foundation Forensic and Business Valuation Newsletter October 2021
Ordering Up a Single Dip: How to Prevent Separate Property from Turning a Double Dip into an Empty Cone
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Law Journal Press January 2010
Valuation in Marital Dissolution and Valuation in Shareholder and Partner Disputes, Business Valuation, edited by Ronald S. Longhofer, New York:
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Wiley Publishing, Inc. April 2009
Cited in: Business Valuation for Dummies; by Lisa Holton and Jim Bates, MBA; Hoboken, NJ
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ABA Publishing, American Bar Association Section of Business Law February 2007
Contributing author to: Business Valuation: A Primer for the Legal Professional; by Jeffrey M. Risius
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Illinois State Bar Association Family Law Newsletter April 2011
Reasonable Compensation: A Key Issue in Marital Dissolution
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Illinois State Bar Association Family Law Newsletter June 2007
Compensation-for-Contribution: An Alternative Method for Handling Personal Goodwill in Divorce Matters
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Michigan Lawyers Weekly February 2005
Time Rule Formulas Considered in Division of Stock Options at Divorce
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Michigan Lawyers Weekly December 2003
Year-End Tax Strategies to Consider in A Divorce
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Michigan Lawyers Weekly February 2003
Family Law, Financial Experts & ‘The Yellow Brick Road
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Michigan Lawyers Weekly January 2003
Assessing Reasonable Compensation
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Litigation Section of the State Bar of Michigan’s "The Litigation Newsletter" April 2001
Primer for the Attorney to Understand Financial Statements in the Context of Commercial Litigation
Select Presentations and Speeches
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The American Academy of Matrimonial Lawyers Virginia Chapter Family Law Seminar January 2017
Divorcing the Wealthy: Unique Issues and Challenging Valuations in High Asset Cases
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The Institute of Continuing Legal Education’s 15th Annual Family Law Institute November 2016
Cross-Examination of the Economic Expert Witness
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The 17th Annual Family Court Forum June 2016
Married or Not, Here They Come! Unique Issues and Challenges Facing Unmarried Parents in Family Court
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The Institute of Continuing Legal Education’s 14th Annual Family Law Institute November 2015
Deposing the Economic Expert
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The Consumer Bankruptcy Association Litigation Skills Seminar April 2015
Anatomy of a Trial: What Every Bankruptcy Lawyer Needs to Know about Actually Going to Trial
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The Institute of Continuing Legal Education’s 13th Annual Family Law Institute November 2014
A Systematic Approach to Confronting Business Valuation
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The Institute of Continuing Legal Education’s 12th Annual Family Law Institute November 2013
Double Dipping: What is the Right Approach
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The Grand Rapids Bar Association, Family Law Section October 2013
Forensic Accounting and Fraud in Divorce
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The Institute of Continuing Legal Education’s 11th Annual Family Law Institute November 2012
Anatomy of a Business Tax Return: What Family Law Practitioners Need to Know
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The Michigan Judicial Training Institute October 2012
Anatomy of a Business Tax Return
Interviews and Media Mentions
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News Release May 2018
Justin Cherfoli Provides Expert Testimony in Marital Dissolution Case
Practice Areas
Education
M.B.A., Finance, Michigan State University
B.A., Accounting, Michigan State University
Licenses & Designations
Certified Public Accountant Accredited in Business Valuation (CPA/ABV)
Certified Public Accountant Certified in Financial Forensics (CFF)
Professional Memberships
AAML Foundation Forensic and Business Valuation Division
Board of Trustees for the Oakland County Bar Foundation
Board of Directors for the RESTORE Foundation (Formerly)
Michigan Association of Certified Public Accountants (MICPA)
American Institute of Certified Public Accountants (AICPA)
Life Fellow of the Oakland County Bar Foundation