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 [...]
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 [...]
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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