When an FLP valuation is examined under audit, the question is rarely whether a discount study was cited. The question is whether the analysis ties the governing provisions of the entity to identifiable economic consequences in a disciplined way. For lawyers and families who prioritize durability over convention, that distinction matters. That is the standard I apply in my own valuation work.
Category: research
BV: professionis est? BV: Is it a profession?
What follows is a draft of a (very long) letter I am submitting to the Editor of the American Society of Appraisers’ journal, Business Valuation Review: Dear Editor: I am writing because I see several things that concern me about our business valuation (“BV”) profession. I offer some poignant remarks that hopefully induce a reaction […]