S corporation retained earnings not marital property; 28% marketability discount upheld

Business Valuation UpdateVol. 9 No. 2
Legal and Court Case Update
February 2003
3444 Sheet Metal Work
332322 Sheet Metal Work Manufacturing
marital dissolution/divorce

Gottsacker v. Gottsacker
2002 Minn. App. LEXIS 1290
November 26, 2002
US
State Court
Minnesota
Court of Appeals
Lyndon Steele, ASA (for wife); Stephen Dennis (for husband)
Lansing

Summary

Among the issues for the court to decide were whether wife's interest in an accumulated adjustment account (AAA) of an S corporation was marital property, and whether the trial court erred in applying a marketability discount to wife's interest in a limited partnership.

See Also

Gottsacker v. Gottsacker

Issues were whether wife's interest in an S corp account was marital property, and whether the trial court erred in applying a marketability discount to her limited partnership interest.