Aaron Stumpf is a Managing Director in the Valuation Advisory group.

Aaron has provided business valuation and financial advisory services for numerous purposes including estate and gift taxation, income tax requirements, buy-sell agreements, mergers and acquisitions, corporate reorganizations and recapitalizations, fairness and solvency opinions, and other tax, corporate, and litigation related matters. He has extensive experience with engagements involving valuation discount opinions (FLP/FLLC), restricted stock and blockage discount opinions, undivided interest discounts, C to S conversions, promissory note valuations, and private equity and hedge fund interests. Aaron has provided valuation services to a broad client base, including middle market businesses, multi-billion-dollar enterprises, private equity funds and hedge funds, law firms, accounting firms, and high-net-worth individuals.

Aaron co-leads Stout’s Trust & Estate Valuation practice. Prior to joining Stout, Aaron worked at Ernst & Young where he planned, performed, and supervised audit engagements across a diverse client base ranging from closely held private companies to Fortune 500 companies in the financial services, manufacturing, and retail industries.

Select Publications

  • Transaction Advisors December 2017

    Mitigating Valuation and Tax-Related Consequences in Buy-Sell Agreements
  • NAEPC Journal of Estate & Tax Planning April 2014

    Freeze Partnerships: Establishing the Preferred Rate
  • Trusts and Estates July 2011

    Should Substantial Discounts Apply to Very Short Holding Periods?
  • Business Valuation Review April 2011

    The Stout Risius Ross Restricted Stock Study: A Recent Examination of Private Placement Transactions from September 2005 through May 2010
  • Business Valuation May 2010

    Estate and Gift Tax Valuation
  • Business Valuation March 2010

    Valuation Discounts and Premiums
  • Business Valuation: A Primer for the Legal Professional December 2007

    Contributing Author to Book Written by Stout's Jeff Risius
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Select Presentations and Speeches

  • 31st Annual Tax Conference May 2018

    Controversial Tax Issues in Business Valuation for Estate & Gift Tax Purposes
  • National Trust Closely Held Business Association 42nd Annual Conference September 2017

    Valuation Roundtable and Court Case Update
  • IICLE 60th Annual Estate Planning Short Course May 2017

    Current Developments - and Time Tested Principles - of Planning with Valuation Discounts
  • Master of Law Program (LL.M), Northwestern University Law School November 2016

    An Overview of Business Valuation in a Gift & Estate Tax Context
  • Chicago Estate Planning Council May 2016

    What’s Your Angle? How the Different Members of a Client’s Planning Team Use and Assess Financial Documents
  • Master of Law Program (LL.M), Northwestern University Law School November 2014

    Business Valuation for Gift, Estate, and GST Tax Purposes
  • Wells Fargo – The Private Bank March 2014

    Business Valuation Issues in Succession Planning
  • Illinois CPA Society Taxation on Real Estate Conference June 2013

    Real Estate as it Applies to Estate & Gift Tax: Valuation Discounts
  • Stout Webinar November 2010 Webinar

    Effectively Defending Discounts for Lack of Marketability
  • MACPA Specialized Business Valuation Workshop October 2010

    Manufacturing - For Whom and at What Value
  • United States Law Firm Group September 2010

    Estate and Gift Tax Valuation: Pressing Issues, Financial Explanations, and Typical IRS Inquiries
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