Wisconsin Appellate Court Affirms Purchase Price as Value of the Business in a Divorce Matter

BVLaw
Court Case Digests
March 10, 2022
0752 Animal Specialty Services, Except Veterinary
115210 Support Activities for Animal Production
marital dissolution/divorce
goodwill, fair market value (FMV), motion for reconsideration, purchase price, gift

Dettloff-Meyer v. Meyer
2022 Wisc. App. LEXIS 205
United States
State Court
Wisconsin
Court of Appeals
Craig Billings, Gaylene Stingl
Kloppenburg, Fitzpatrick, and Nashold

Summary

The husband in this divorce case appealed the circuit court ruling that relied on the purchase price of the business less than a year before the valuation date. The purchase was made from the wife’s parents at a price the parents determined of $500,000, most of which was goodwill. After an initial ruling from the circuit court accepting the value less debt of the husband’s expert, the wife asked for a reconsideration. The Circuit Court granted the reconsideration and found a value of the business of $45,230. The husband appealed the reconsidered decision of the circuit court. The appellate court determined that the circuit court’s use of the purchase price was not erroneous.

See Also

Dettloff-Meyer v. Meyer

The husband in this divorce case appealed the circuit court ruling that relied on the purchase price of the business less than a year before the valuation date. The purchase was made from the wife’s parents at a price the parents determined of $500,000, most of which was goodwill. After an initial ruling from the circuit court accepting the value less debt of the husband’s expert, the wife asked for a reconsideration. The Circuit Court granted the reconsideration and found a value of the business of $45,230. The husband appealed the reconsidered decision of the circuit court. The appellate court determined that the circuit court’s use of the purchase price was not erroneous.

This article also appears in:
Business Valuation UpdateVol. 28 No. 5