Majority rule on goodwill in divorce is ‘mistaken’
Nearly a year ago, the Wisconsin Court of Appeals broke new ground in divorce law when it held that all the saleable personal goodwill in a professional practice, as evidenced by a non-compete agreement, is a divisible marital asset. (See BVWire #96-2) The husband appealed, and in McReath v. McReath, 2011 WL 2706249 (July 12, [...]
Divorce goodwill, and healthcare lost profits lead BVR’s training calendar this week and next
Join attorney Andrew Soshnick (Baker Daniels) and valuation expert James Alerding (Clifton Gunderson) for “Goodwill in Divorce” on Thursday, July 14. This 100-minute webinar will address the many problem areas in what has long been one of the most difficult part of any valuation for martial dissolution purposes: the allocation of personal versus entity goodwill. [...]
Wisconsin court announces new standard on goodwill value
The current majority rule among U.S. jurisdictions holds that the corporate component of the goodwill value of a private professional practice is a divisible marital asset, but the professional component is not. Wisconsin was among the majority until McReath v. McReath, WL 2943198 (Wis. App.)(July 29, 2010), which may have just revised the rule: All [...]
Family lawyers converge on BVR’s Summit on Divorce and Valuation in September
The latest agenda for the BVR/Morningstar Summit on Divorce and Valuation is as follows–matrimonial lawyers can register now here (and receive CLE credits). Monday, September 13, 2010 8:00 a.m. – 8:30 a.m. Continental Breakfast 8:30 a.m. – 10:00 a.m. Divorce Testimony: Judges, Lawyers and Appraisers on the State of the Art Featuring: Jay Fishman (Financial Research Associates), William Morrison (Morrison [...]
The Dirty Dozen: National Emerging Valuation Issues in Divorce
The BVLaw team is just back from the AICPA / AAML National Conference on Divorce in Las Vegas. The forum provided a solid overview of the very latest BV developments tied to divorce law. It was also a great opportunity to visit and network with some of the best BV experts in the space. Thanks [...]
Ten Steps to Value Law Firm Contingency Cases
Weinberg v. Dickson-Weinberg, 2009 WL 3294784 (Hawai’i App.)(Oct. 14, 2009) On her appeal of the divorce from her lawyer husband in Hawai’i, a wife asked two questions, which have important implications for other state jurisdictions: Has the majority rule on the disposition of goodwill in divorce resulted in “gross under-valuations of countless successful businesses” simply [...]
Court values law firm goodwill (and their contingency cases)
Weinberg v. Dickson-Weinberg, 2009 WL 3294784 (Hawai’I App.)(Oct. 14, 2009) Has the majority rule on the disposition of goodwill in divorce resulted in “gross under-valuations of countless successful businesses” simply because their “fortunate owners” happened to be professionals? Does the majority rule properly hold that a law firm professional’s pending contingency-fee cases are marital property [...]
Peyton Manning: a new, if unconventional, definition of personal goodwill
Jim Alerding (another longtime Hall of Famer from the AICPA) points out that, if you’re confused about personal goodwill, just think of the quarterback of his home team; Peyton Manning. “I challenge any one to replace him and keep the same value,” he said. Substitute your own home team all-star if you need to. As [...]
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