Court Explains Treatment of Undistributed Earnings in Valuing Law Firm Partnership Interest

BVLaw
Court Case Digests
June 3, 2019
8111 Legal Services
541110 Offices of Lawyers
marital dissolution/divorce
expert testimony, separate property, valuation date, partnership interest, marital property, future earnings

Burchfield v. Burchfield
2019 Va. Cir. LEXIS 206
US
State Court
Virginia
Circuit Court of Fairfax County (Trial Court)
William Henderson (husband); William Foote (wife)
Oblon

Summary

In valuing husband’s law firm partnership interest, court finds undistributed earnings, even though allocated to husband before separation, are not marital property because money was based on firm’s anticipated net profits; money was not earned during marriage but after parties’ separation.

See Also

Burchfield v. Burchfield

In valuing husband’s law firm partnership interest, court finds undistributed earnings, even though allocated to husband before separation, are not marital property because money was based on firm’s anticipated net profits; money was not earned during marriage but after parties’ separation.