BV536 Using the NICE Method

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. 

ASA has established a dedicated advisory team for NICE model users, aiming to offer comprehensive support and guidance. To remain informed and engaged, individuals are encouraged to join ASA Connect. To do so, follow these steps: 

1. Log in to Home (appraisers.org)
2. Navigate to ASAConnect, found in the top right-hand corner of the website 
3. Go to ‘Groups’ along the top bar
4. Select the ‘NICE Method Users Group’ 

This initiative intends to enhance user experience and facilitate efficient utilization of the NICE model. If you have any trouble accessing or have any questions, please contact member services at asainfo@appraisers.org 

Learning Outcomes

Upon webinar completion, the participant 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.

Course Audience

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

Instructor Information

William H. Frazier | 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. 

Continuing Education

Review of this session recording will award 2 CE hour(s). 

CPE credit is not awarded for this pre-recorded offering.