BV536 Using the NICE Method

  • Registration Closed

Class Date/Time

Tuesday, May 23, 2023
1:00pm-3:00pm Eastern Standard Time

Registration Includes

  • Access to virtual webinar via zoom will be accessible via education dashboard (login required)
  • Electronic webinar handout(s)* -- are not for resale or distribution

*Any webinar handouts will be made available to registrants the morning of the live event and made accessible via your education dashboard (login required). Once handouts have been posted for download, the class is no longer refundable. 

Continuing Education (CE) Credit

This webinar will award 2.4 CE/CPE hour(s) for the live event. 

If you are a designated member of ASA, CE credit will automatically be entered into your record after you participate in the live webinar. Certificate of completion access is immediate once all required components are completed in the Course Wrap-Up Tab.  

NASBA and Continuing Professional Education (CPE) Credit

ASA is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors.  State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit.  Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website

CPE Credit: Up to (2.4) CPE credits in Specialized Knowledge
Program Level: Fundamental
Delivery Method: Only group-live courses are approved for CPE
Prerequisites: None
Advanced Preparation: None
Policies: ASA's Refund and Cancellation Policy and ASA's Complaint Resolution Policy 

Webinar Description

This webinar will provide the basics on how to use the Nonmarketable Investment Company Evaluation ("NICE"). The origin and theory behind the NICE Method will be explained but this will be less than 25% of the webinar's material. We will run through a generic application and describe the key points of the model. This will be followed by several examples which show how the model handles variances in the key components. At the conclusion of the webinar, an experienced appraiser will be able to use the model. The ASA is currently setting up a NICE advisory team to assist users with the use of the model.

Instructional Methods

Methods include lecture, visual PPT presentation and polling questions.  

Course Audience

Anyone interested in the subject of valuing noncontrolling interests in family holding entities for Federal estate and gift tax purposes.

Learning Level 


Upon completion of this course, students will be able to:

  • Understand why the Income Approach to value should be used in valuing a minority interest in a family investment entity for Federal gift and estate tax purposes;
  • Understand why the NICE Method is a good and acceptable method of the Income Approach for this purpose; 
  • Use the model provided by the ASA for determining value by the NICE Method for simple applications; and 
  • Begin the learning process necessary for using the NICE model in more complex assignments.


All course materials included with you registration are PDF Download Only items made available to students prior to the start of the class and are not for resale or distribution. All downloadable materials are accessible via your education dashboard (login required). Once eMaterials have been posted for download, the class is no longer refundable.

Accessing eMaterials

eMaterials are provided electronically in PDF format and posted to the class the morning of the live event and listed within the education dashboard for all registrants to securely access prior to the start of the webinar. When opting to print downloadable materials, it is recommended that settings be adjusted to print in black and white (or grayscale) and consider printing double-sided on recycled paper.

Certificate of Completion

A certificate of completion will be available to view and/or download immediately via your education dashboard once all required components are completed. 

William H. Frazier, ASA

Managing Director

Weaver and Tidwell, L.L.P

William H. Frazier, ASA, has over 40 years of experience in valuation, investment banking, and litigation advisory services. For the last 20 years, Will's career focus has included valuing family-owned businesses and holding entities, such as family limited partnerships. Will has served as an expert witness and appraiser in several U.S. Tax Court cases.  Additionally, Will has authored many articles on the subject of business valuation for Federal estate and gift tax purposes and was the developer of the Nonmarketable Investment Company Evaluation ("NICE") Method.

Will is a senior member of the American Society of Appraisers (ASA) and former chair of the Government Relations Committee, former treasurer and secretary of the Business Valuations Committee (BVC) and head of ASA’s Task Reform Task Force. From 2008-2011, Will served on the Internal Revenue Service Advisory Council (IRSAC) where he was assigned to the Office of Professional Responsibility. He is currently a member of the Standards Sub-committee of the BVC. Will is a frequent speaker and program presenter on the subject of estate and gift tax valuation.


Live Virtual Event
Zoom Webinar Access
05/23/2023 at 1:00 PM (EDT)  |  120 minutes
05/23/2023 at 1:00 PM (EDT)  |  120 minutes Join link will be active 10 minutes before the scheduled live webinar. Once you click on the join link, you will be re-directed to the zoom event waiting room and the host will allow you to join shortly. If you experience technical issues joining via the link, we highly recommend to dial-in via a telephone until you are able to troubleshoot your access issue that may be related to personal settings, pop-up blockers, firewall etc. In addition, refreshing, or logging off and re-joining typically resolves access issues. Please email if you've exhausted all recommended troubleshooting tips. Thank you.
Course Wrap-up
BV536 Webinar Evaluation
15 Questions
15 Questions We appreciate you taking the time to complete this course evaluation. Your feedback is vital to ASA to provide quality education and courses. Thank you in advance for your valuable feedback as it will continue to help ASA shape future educational initiatives. Sincerely, The ASA Education Team
BV536 Webinar Certificate
2.40 CPE credits  |  Certificate available
2.40 CPE credits  |  Certificate available