Double-Dip Claim Fails to Resonate With Appeals Court
Court says awarding husband family business plus business income taken out to make business-related payments does not fit “notion of an impermissible ‘double dip’”; business was not a diminishing asset, and wife did not receive either of those assets.
Bulloch v. Bulloch
Court says deducting personal goodwill from valuation of physician’s interest in outpatient surgical center is appropriate even if physician was not an employee of center; entity’s income and total value depended on its physician members’ patient base.
Farrell v. Farrell (II)
Appeals court says trial court erred in allowing husband to pay substantial portion of wife’s share in marital property over multi-year period; trial court must order immediate equal division of stock in family businesses.
Court Treats Outpatient Surgery Center as Extension of Physician’s Practice
Court says deducting personal goodwill from valuation of physician’s interest in outpatient surgical center is appropriate even if physician was not an employee of center; entity’s income and total value depended on its physician members’ patient base.
Unclear Valuation of Family Business Interests Requires Remand
Appellate court remands for trial court’s express valuation of husband’s business interests and for explanation of its unequal distribution, awarding all of the business interests to husband.
Guidance for valuators on Washington state double dip jurisprudence
Double dipping is a tricky issue because different states have developed different approaches to it. Valuators specializing in divorce issues must know the controlling case law in the state in which they practice. A recent decision by the Washington state Court of Appeals clarifies its state's analytical framework in a case featuring a successful management consulting business the husband had set up and grown during the marriage.
Divided Court Addresses Issue of Appreciation of Gifted Property
Divided appeals court upholds decision not to award any part of appreciation in separate gifted stock to nonowner spouse; dissent says length of marriage and contributions by wife, regardless of their nature, support equal division of stock appreciation.
Court Digs Through Appreciation Issues in Complex Divorce Case
Appellate panel affirms majority of rulings as to nonowner spouse’s right to appreciation of premarital and gifted property; lower court correctly determined passive and active immune assets in affecting equitable distribution of business assets.
Fuller v. Fuller
Appeals court says trail income generated by solo financial planning practice is different from professional goodwill; it can be sold separately or assigned, and there exists a formula for valuing it; trial court was right to consider it a marital asset.
Court Distinguishes Between Goodwill and Trail Income in Solo Practice Valuation
Appeals court says trail income generated by solo financial planning practice is different from professional goodwill; it can be sold separately or assigned, and there exists a formula for valuing it; trial court was right to consider it a marital asset.
Court Upholds Inclusion of Premarital Value in Property Distribution
Court says enterprise goodwill valuation of practice was based on expert calculation using excess earnings method and as such is supported by requisite “any” evidence; also, statute allows inclusion of practice’s premarital value in property distribution.
Washington Court Explains Principle Guiding Double-Dip Analysis
Appeals court says there was no double dipping where the business, valued under an income approach, was a going concern, not a fixed asset, and would continue to generate income for owner spouse with which to pay maintenance award to nonowner spouse.
In re Marriage of Cheng
Appeals court says there was no double dipping where the business, valued under an income approach, was a going concern, not a fixed asset, and would continue to generate income for owner spouse with which to pay maintenance award to nonowner spouse.
Spouse’s Unilateral Stock Agreement Sets Value in Divorce Action
Appeals court agrees with trial court that valuation in stock agreement is binding in partition action even though non-owner spouse refused to sign agreement and agreement did not mention divorce as one of the circumstances in which valuation applied.
Court Disapproves of Nonexpert Valuation of Key Marital Asset
Appeals court rejects trial court’s valuation of husband’s fitness training company noting trial court lacked necessary financial evidence as well as testimony from experts; appeals court remands requesting “adequate valuation,” excluding goodwill.
Valuation of key marital asset demands expert opinion
In a Mississippi divorce, the husband's sole-owned fitness training company was the key asset. An accurate valuation was central to achieving an equitable distribution of property, but the parties did not hire experts or even submit much financial information to the trial court.
Double-Dip Claim Fails to Resonate With Appeals Court
Court says awarding husband family business plus business income taken out to make business-related payments does not fit “notion of an impermissible ‘double dip’”; business was not a diminishing asset, and wife did not receive either of those assets.
In re Marriage of Kirkendoll
Court says awarding husband family business plus business income taken out to make business-related payments does not fit “notion of an impermissible ‘double dip’”; business was not a diminishing asset, and wife did not receive either of those assets.
Kminek-Nierenberg v. Kenneth Nierenberg
Appellate panel affirms majority of rulings as to nonowner spouse’s right to appreciation of premarital and gifted property; lower court correctly determined passive and active immune assets in affecting equitable distribution of business assets.
Court Digs Through Appreciation Issues in Complex Divorce Case
Appellate panel affirms majority of rulings as to nonowner spouse’s right to appreciation of premarital and gifted property; lower court correctly determined passive and active immune assets in affecting equitable distribution of business assets.
Divided Court Addresses Issue of Appreciation of Gifted Property
Divided appeals court upholds decision not to award any part of appreciation in separate gifted stock to nonowner spouse; dissent says length of marriage and contributions by wife, regardless of their nature, support equal division of stock appreciation.
In re Marriage of Kerkhoff
Divided appeals court upholds decision not to award any part of appreciation in separate gifted stock to nonowner spouse; dissent says length of marriage and contributions by wife, regardless of their nature, support equal division of stock appreciation.
Appeals Court Signs Off on ‘Slight’ DLOM in Minority Interest Valuation
Appeals court says use of DLOM in valuing interest for divorce depends on interest’s characteristics not owner’s intent to sell the interest, but appeals court affirms trial court’s decision to apply “slight” or no DLOM based on intent to sell analysis.
Court Upholds Inclusion of Premarital Value in Property Distribution
Court says enterprise goodwill valuation of practice was based on expert calculation using excess earnings method and as such is supported by requisite “any” evidence; also, statute allows inclusion of practice’s premarital value in property distribution.
Code & Code
Court says enterprise goodwill valuation of practice was based on expert calculation using excess earnings method and as such is supported by requisite “any” evidence; also, statute allows inclusion of practice’s premarital value in property distribution.