Please note: CPE credit is not available through Training Packs
More information is available below
Featuring (click image for bio)
About This Program
Piecing together the special considerations and components of a very large estate consisting of investment assets is a formidable task. Typically, most estates of this type are structured with a central FLP or LLC holding most of the assets. Frequently there are subsidiary entities designed to hold and manage investment assets which differ in nature from the estate’s primary asset class. Join William Frazier for instruction on the special valuation situations can arise in very large estates that are not commonly seen elsewhere such as; blockage discounts for large positions in equities, tiered discounts and discounts associated with investments in hedge funds and private equity partnerships. Managing data is an especially challenging part of valuing very large estates. Real estate appraisers, family offices and small groups add opaqueness and create coordination challenges. Understanding who will be providing data to you, their capabilities and desire to cooperate is essential for bringing all the components together.
Here we take the case of Smith Family Partners, Ltd., an investment entity with a Net Asset Value (“NAV”) of $300 million. The valuation is for estate tax purposes and is governed by the “Fair Market Value” definition. From a valuation standpoint, the Very Large Estate has many decision points which affect value. Each asset class and even each subclass must be considered. For example, dollar for dollar, a small cap stock portfolio has a higher discount impact than does a large cap portfolio. Non-income producing real estate has a higher impact than income producing real estate. In smaller assignments such differences might require less delineation due to materiality. However, in Very Large Estates even a non-core asset which is just a few percentage points of the total may still be material and must be properly vetted.
Single Connection Policy
Admission to this event authorizes one computer and phone connection for one location. These connections may be transferred users and/or locations. Multiple concurrent connections for a single admission registration are not allowed.
Multi-User CPE Policy
Admission to this program includes one CPE certificate for one individual. Any additional listeners requesting CPE must pay a processing fee assessed at the completion of the online CE survey for this course.
CPE Processing Fees may be bypassed by entering a valid, unused CPE Authorization Code (for single event purchasers) or by logging into BVR's website (for subscribers to BVR's Training Series).
Prerequisites: Knowledge of Business Valuation
BVR now has closed captioning on all 2019 past programs. To try out this enhancement, subscribers can login to the Desktop Learning Center, select a program, and click play video. The captions will start to play automatically, and can be disabled from the player per your preference.
Training Packs: Conference Recordings & Transcripts
BVR's Training Packs are an indispensable addition to any valuation reference library. Use them as training tools as many times as you'd like, wherever you are: play them at your computer at work or home, in your car, or on your personal audio device.
Delivered as an electronic download approximately four weeks after the program has aired, each Training Pack includes:
For a complete list of available Training Packs from past webinars, click here.
Registration for this program is not available.
Purchase a Training Pack from this event*
BVR's Satisfaction Guarantee:
Business Valuation Resources offers a 100% money-back guarantee on our training services. If you are not completely satisfied with your experience, or have any feedback, please contact Business Valuation Resources at 1-503-479-8200 or firstname.lastname@example.org.