Nebraska Supreme Court Allows Fair Value Determination for Family-Owned Business and Does Not Allow Discounts

BVLaw
Court Case Digests
August 5, 2022
7991 Physical Fitness Facilities
713940 Fitness and Recreational Sports Centers
marital dissolution/divorce
fair value, discount, fair market value (FMV), marital estate, earnings, equitable distribution, dissolution, alimony, unjust enrichment

Simons v. Simons
312 Neb. 136; 2022 Neb. LEXIS 92
US
State Court
Nebraska
Supreme Court
Gregory Harr, CPA/ABV; Daniel Morris, CPA/ABV
Heavican, C.J., Miller-Lerman; Cassel, Stacy; Funke, Papik; Freudenberg, JJ

Summary

The Nebraska Supreme Court allowed a fair value determination by the wife’s expert as the appropriate value for a divorce case and did not include any discounts that might apply in a fair market value determination. Much of the opinion dealt with the issue of a constructive trust, which the trial court determined results in a 50% ownership by the wife in the family business.

See Also

Simons v. Simons

The Nebraska Supreme Court allowed a fair value determination by the wife’s expert as the appropriate value for a divorce case and did not include any discounts that might apply in a fair market value determination. Much of the opinion dealt with the issue of a constructive trust, which the trial court determined results in a 50% ownership by the wife in the family business.