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Journal of Business Valuation 2015 Edition

From the CBV Institute ...

On double-dip issue, Ohio appeals court agrees with Gallo analysis

A recent Ohio appeals court decision expressly agreed with its sister court’s 2015 ruling in Gallo that state law does not prohibit double dipping but does require the trial court to avoid unfairness in distributing marital assets and determining spousal support.

Ohio Court Affirms Facts of Case Don’t Require ‘Double-Dipping Offset’

Ohio appeals court upholds trial court’s spousal support determination based on husband’s average, rather than normalized, income, finding “equity did not require a double-dipping offset”; court agrees with sister court’s ruling in Gallo that applicable statute does not prohibit double dipping.

Kim v. Kim

Ohio appeals court upholds trial court’s spousal support determination based on husband’s average, rather than normalized, income, finding “equity did not require a double-dipping offset”; court agrees with sister court’s ruling in Gallo that applicable statute does not prohibit double dipping.

Connecticut court’s impermissible double dipping triggers remand

In a noteworthy decision, a Connecticut appellate court recently found the trial court double dipped when it divided the marital assets and calculated spousal support.

Trail income is different from personal goodwill, Tennessee court clarifies

Tennessee does not consider personal goodwill in a solo proprietorship a marital asset. But what about trail income, the money a financial planner makes from managing his or her clients’ funds and portfolios? In Fuller v. Fuller, the owner-spouse argued the goodwill analysis applied to the treatment of trail income as well. The Tennessee Court of Appeals recently disagreed.

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.

Gifford v Gifford

New York appellate court finds trial court’s spousal support determination violated double counting rule where expert valued husband’s solely owned engineering company based on an income approach and the business was a service business.

Business valuation in divorce--the series

Loutts v. Loutts

State spousal support statute does not flatly forbid double dipping, but requires courts to consider all circumstances of a particular case and principles of fairness, appellate court rules.

Kowalska-Davis v. Davis

Massachusetts Court of Appeals acknowledge trend in that state to find an equitable solution to the problem of the double dip in divorce, involving making separate findings regarding the income of the owner-spouse from the business and the income/assets o ...

California court considers new rule against double dipping

In re Marriage of Blazer

California appellate court declines to adopt the prohibition against “double- dipping” in divorce.

Fleischmann v. Fleischmann

This action for divorce was commenced on January 23, 2006.

New York Compares ‘Double Dipping’ for Professional Licenses vs. Income-Producing Assets

New York Supreme Court considers extending prohibition against double counting from professional licenses to tangible assets.

Keane v. Keane

New York Supreme Court considers extending prohibition against double counting from professional licenses to tangible assets.

Sampson v. Sampson

The issues in this marital dissolution were the valuation of wife’s insurance agency and the “double-dipping” that wife claimed was a result of the improper division of the property.

Champion v. Champion

The issue in this case was whether the trial judge erred in valuing of the husband's business.

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