Family Limited Partnerships Appraisals
FLP and closely held entity interests for gift and estate reporting.
Business valuation is not a state-licensed activity, and the work is document-driven rather than site-driven. NextPhase accepts these engagements anywhere in the United States and internationally. Expect to provide substantial financial records — see what we'll need below.
What drives the number
Family limited partnership valuation is one of the most heavily scrutinised areas in the whole discipline. Discounts for lack of control and lack of marketability must be supported by evidence and by the governing documents — unsupported discounts are precisely what the IRS challenges.
Commonly appraised
- Family limited partnerships
- Closely held LLC interests
- Minority and non-controlling interests
- Gift tax reporting
- Estate tax reporting
- Succession and transfer planning
What we'll need from you
- Partnership or operating agreement and all amendments
- Entity financial statements and tax returns
- Schedule of underlying assets, including real property
- The exact interest and percentage being valued
- Any transfer restrictions, buy-sell terms, or rights of first refusal
Where the entity holds real property or tangible assets, those are appraised directly — not accepted at assessed or book value, which is a common and easily challenged shortcut.
| Scope | Typical fee |
|---|---|
| Sole proprietorship / simple | $2,500 – $5,000 |
| Small business, single entity | $5,000 – $9,000 |
| Professional practice | $7,500 – $12,000 |
| Complex / litigation / multi-entity | $12,000 – $20,000+ |
Related business valuation assets
Common questions
Can you value a business outside Arizona?
Yes, anywhere in the world. Business valuation is not a state-licensed activity and the work is driven by financial records rather than a site visit. Be prepared to provide substantial documentation — the quality of the records largely determines the quality of the conclusion.
What will you need from us?
Three to five years of financials or returns, current interim statements, the governing agreements, and detail on owner compensation and non-operating assets. Incomplete records do not stop an engagement, but they narrow what the report can credibly conclude, and the report will say so.
How long does it take?
Typically three to six weeks from the point all financial records are in hand. Litigation matters with a firm court date are scheduled around that date.
Do you apply discounts for lack of control or marketability?
Where the assignment and the interest being valued support them, yes — and the report documents the basis for each. Unsupported discounts are the fastest way to lose a valuation in court.
Ready for a number you can defend?
Tell us what you have and what it's for. You get a fixed written quote — never an hourly meter, never a sales call.