As any appraiser will tell you, discounts for lack of marketability and adjustments for minority interests can be a headache.  When the ownership structure of the appraisal target begins to get complicated, with multiple ownership "tiers", however, these adjustments can take on a life of their own, making the appraisal assignment a nightmare.

To help us through that nightmare, William Frazier and John Porter will join BVR on May 27 for "Valuing Tiered Partnership Structures", an in-depth look at the unique challenges posed by complicated ownership arrangements.  Through the course of their 100-minute teleconference, these two experts will give the insights necessary to tackle the inherent challenges in placing a value on these tricky structures.

• The emergence of tiered ownership structures
• Increased used of the Family Limited Partnership (FLP) vehicle in estate planning
• Longer lives of FLPs and their implications
• How do tiers affect discounts?
• Related court cases and limited information available from those opinions
• The economic theory of tiered ownership and related financial structures
• Economic risks and valuation consequents of tiered ownership structures

• Learn how the increased use and longer life spans of FLPs have come to complicate valuations for estate purposes
• Understand how tiered ownership structures affect discounts and other valuation applications
• Learn why limited judicial opinions in this area should not be used during the appraisal process
• Learn the economic theory of tiered ownership and what it means for your appraisal