Education

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Spring Hill College, B.S.C., Business Administration

Thunderbird Graduate School of Global Management, M.I.M., Master of International Management​

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Credentials and Licenses

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FASA - Member of the College of Fellows of the American Society of Appraisers (ASA)

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Professional Associations

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Houston Business and Estate Planning Council

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Speaking Engagements

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“The Valuation of Nonoperating Assets in Operating Businesses

American Bar Association, Real Property and Estate and Trust Section, Business Planning Group"

April 2026

William H. Frazier, FASA, is a senior member of the American Society of Appraisers and specializes in business valuation, appraisal, and related consulting and expert witness services, including matters involving federal tax and litigation.

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Will has extensive experience as an appraiser and expert witness, including participation in multiple U.S. Tax Court matters such as Grieve, Steinberg, Hendrix, Jelke, McCord, Dunn, and Gladys Cook. His work frequently addresses complex valuation issues, including discounts for lack of marketability and the valuation of family investment holding entities.​

 

Will possesses particular expertise in the analysis and support of valuation discounts. He is the senior contributing author to the chapter on discounts for lack of marketability in Valuing a Business (6th ed.) and co-authored a chapter on the same topic in The Lawyer’s Business Valuation Handbook (3rd ed.). Will is also the creator of the Nonmarketable Investment Company Evaluation (“NICE”) method of valuing family investment holding entities, which is featured as the only chapter on FLP valuation in the Cost of Capital textbook.

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Will has written numerous articles on business valuation for publications including Trusts & Estates, Business Valuation Review, ABA Probate and Property, Valuation Strategies, BV E-Letter, and Estate Planning. He served on the Internal Revenue Service Advisory Council (IRSAC) from 2009 to 2011, working on appraisal matters related to the Office of Professional Responsibility, and he currently serves on the Trusts & Estates – Valuation Advisory Editorial Board. In 2025, he received the ASA’s highest recognition, the Fellow (FASA) designation.