Business Valuation in Divorce
We’ve been busy testing and putting the finishing touches on our new BVLaw™ Business Valuation in Divorce Case Law Compendium – a nifty, portable, CD with 340 fully indexed and searchable court case abstracts and full text opinions for divorce cases involving challenges over the valuation of business assets. Case law coverage will extend back 15 [...]
Visit BVR May 6-7 at the 2010 AICPA / AAML National Conference on Divorce
The National Conference on Divorce, sponsored by the AICPA and the AAML (American Academy of Matrimonial Lawyers) provides tax, valuation, litigation and practice management skills in the field of divorce services. All sessions are at The Bellagio Hotel and many feature two expert speakers – one CPA and one Attorney – ensuring you get the [...]
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 [...]
Alabama adopts fair value in divorce, under broader equitable standard
Grelier v. Grelier, 2009 WL 5149267 (Ala. Civ. App.)(Dec. 30, 2009) In what could serve as precedent for states that now apply the broad, equitable standard for valuing businesses in divorce, the Alabama Court of Appeals considered a case in which the husband owned a minority (25%) interest in several closely held, commercial property development [...]
A trial court uses parts of three experts’ testimony to come up with its own restaurant valuation
Talk about competing messages! A couple owned a 60% interest in a successful Ohio restaurant. During their divorce, the wife’s expert valued the restaurant at $650,893. Amazingly, the husband’s first expert used a “blended” approach (percentage of average cash flow and gross sales) to find the restaurant was worth $691,000—or nearly $40,000 more than the [...]
Divorce court says SSVS-1 is not binding
During the divorce of the California Devries, a court-appointed forensic accountant valued the husband’s construction business under the excess earnings and capitalization of earnings approach, determining no goodwill value. Using three months of past gross profits, however, the expert came up with a goodwill value of $100,000, which the court adopted in addition to a [...]
Broker vs. BV Expert in Valuing License Bureau for Divorce: Who is more Credible?
Haynes v. Haynes, 2009 WL 3219301 (Ohio App. 8 Dist.)(Oct. 8, 2009) During the 16 years of marriage, the wife operated a license bureau as a deputy registrar for the state of Ohio. After filing for divorce she retained a business broker to appraise the business; he had evaluated 20 different businesses—though none involved a [...]
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