Gill v. Gill

BVLaw
Full Text of Court Cases
October 24, 2018
2024 Ice Cream and Frozen Desserts
311520 Ice Cream and Frozen Dessert Manufacturing
marital dissolution/divorce
equitable distribution, valuation date, willing buyer, willing seller, marital property, purchase price, expectancy, contingent consideration

Gill v. Gill
2018 Minn. LEXIS 613
US
State Court
Minnesota
Supreme Court
unknown (husband); unknown (wife)
Chutich

Summary

Earn-out payments related to sale of a marital asset were marital asset and subject to equitable distribution, Supreme Court’s majority says, even though value of the payments was uncertain as of the valuation date and the sale of the husband’s company took place after the valuation date.
Gill v. Gill
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See Also

Divided High Court Says Earn-Out Payments From Company Sale Are a Marital Asset

Earn-out payments related to sale of a marital asset were marital asset and subject to equitable distribution, Supreme Court’s majority says, even though value of the payments was uncertain as of the valuation date and the sale of the husband’s company took place after the valuation date.