Court do-over to figure passive appreciation for divorce
In an Ohio divorce case, the trial court made an award to the wife based on the full fair market value of the husband’s business.
Cummings v. Cummings
In this appeal of a divorce case in Kentucky, the court determined that the family court did not abuse its discretion in its distribution of the proceeds of the sale of the husband’s veterinary practice. The family court determined that most of the proceeds were enterprise goodwill and, thus, marital property.
Kentucky Court Does Not Consider Date of Marriage Value of Veterinary Practice—Most of Value Is Enterprise Goodwill and, Thus, Marital
In this appeal of a divorce case in Kentucky, the court determined that the family court did not abuse its discretion in its distribution of the proceeds of the sale of the husband’s veterinary practice. The family court determined that most of the proceeds were enterprise goodwill and, thus, marital property.
Wife who foregoes expert can’t complain about the outcome
A marital dissolution case in Illinois is another instance of a party not offering a competing valuation and then appealing the outcome—to no avail.
Ohio Appellate Court Remands Value of Businesses for Determination of Active Appreciation
This matter involved cross-appeals from a divorce decree in Trumbull County, Ohio. The focus of this digest relates to cross-appeals relating to the values of the husband’s businesses and the matter of active appreciation on those businesses.
Fordeley v. Fordeley
This matter involved cross-appeals from a divorce decree in Trumbull County, Ohio. The focus of this digest relates to cross-appeals relating to the values of the husband’s businesses and the matter of active appreciation on those businesses.
Chase v. Chase
On appeal, the husband asked the court to review whether the wife needed alimony given the assets she otherwise received in the equitable distribution and her earning capacity as a pharmacist, whether an award of rehabilitative alimony and alimony in futuro by the trial court was appropriate, and whether the trial court’s valuation of the husband’s medical practice was in error. The appellate court affirmed the trial court in all aspects reviewed and did not award legal fees to either party.
Tennessee Appeals Court Affirms Trial Court Decision on Spousal Support and on the Value of Husband’s Medical Practice
On appeal, the husband asked the court to review whether the wife needed alimony given the assets she otherwise received in the equitable distribution and her earning capacity as a pharmacist, whether an award of rehabilitative alimony and alimony in futuro by the trial court was appropriate, and whether the trial court’s valuation of the husband’s medical practice was in error. The appellate court affirmed the trial court in all aspects reviewed and did not award legal fees to either party.
In re Trapp
The primary issue in this Illinois appeal of a divorce decree dealt with the value of a company owning two buildings. The primary tenant in both buildings was the husband’s electrician business. The trial court accepted the value of the real estate company the husband’s business valuation expert, who was not a real estate appraiser, submitted. The business appraiser valued the two buildings using what the court determined to be “competent evidence.”
Illinois Appeals Court Affirms Trial Court’s Acceptance of Real Estate Value in Absence of Wife’s Submission of a Competing Value
The primary issue in this Illinois appeal of a divorce decree dealt with the value of a company owning two buildings. The primary tenant in both buildings was the husband’s electrician business. The trial court accepted the value of the real estate company the husband’s business valuation expert, who was not a real estate appraiser, submitted. The business appraiser valued the two buildings using what the court determined to be “competent evidence.”
Brown v. Brown
In this Mississippi divorce case, the appellate court en banc reversed in part and remanded in part, asking the trial court to determine whether certain items were marital property and determine the values for certain marital properties so a proper distribution of marital property can be made. Included was a used-car business that was remanded for a value to be determined. Several judges dissented primarily because the marital estate in total was not very material and they believed the appellate court could have made adjustments without remanding.
Mississippi Appeals Court En Banc Remands for Valuation of a Small Used-Car Business With Dissents From Several Judges
In this Mississippi divorce case, the appellate court en banc reversed in part and remanded in part, asking the trial court to determine whether certain items were marital property and determine the values for certain marital properties so a proper distribution of marital property can be made. Included was a used-car business that was remanded for a value to be determined. Several judges dissented primarily because the marital estate in total was not very material and they believed the appellate court could have made adjustments without remanding.
District Court Affirms Tax Court’s Decision That Deferred Payments to Spouse Are Not Deductible Alimony Payments
The district court in this appeal from the Tax Court affirmed the Tax Court’s decision that deferred payments the husband made to the wife were not deductible alimony payments and thus not taxable to the wife.
Redleaf v. Comm’r
The district court in this appeal from the Tax Court affirmed the Tax Court’s decision that deferred payments the husband made to the wife were not deductible alimony payments and thus not taxable to the wife.
Hollis v. Hollis
One of the main issues in this appeal was how to classify the husband’s “book of business,” i.e., his client relationships, assets under management, and related income. The husband was a financial advisor for UBS. The wife contended the book of business had value that constituted a marital asset. The husband pointed out that UBS now took the position that a financial advisor who left the company cannot take any information with him or her. The court also noted that “deferred cash agreements” were actually bonuses that were marital assets. The appellate court affirmed the trial court’s decision to exclude the book of business from marital assets. The court also affirmed the trial court decision on payment of alimony to the wife “in futuro.”
The Tennessee Appeals Court Affirms the Trial Court’s Decision to Exclude From the Marital Estate Financial Advisor the Husband’s ‘Book of Business’
One of the main issues in this appeal was how to classify the husband’s “book of business,” i.e., his client relationships, assets under management, and related income. The husband was a financial advisor for UBS. The wife contended the book of business had value that constituted a marital asset. The husband pointed out that UBS now took the position that a financial advisor who left the company cannot take any information with him or her. The court also noted that “deferred cash agreements” were actually bonuses that were marital assets. The appellate court affirmed the trial court’s decision to exclude the book of business from marital assets. The court also affirmed the trial court decision on payment of alimony to the wife “in futuro.”
Husband shuns BV expert, loses case
In a Pennsylvania divorce case involving a restaurant, neither the husband nor the wife submitted formal business appraisals.
King v. King
In this Maryland divorce case, the Court of Special Appeals affirmed the trial court on all appealed issues including marital property determinations; monetary award to the wife; determination of incomes of the husband and wife; and determinations of alimony, child support, and related expenses. The Court of Special Appeals also affirmed that the husband’s business was not a gift and was marital property, and it determined the value of the business as the wife’s expert presented. Both parties were forensic accountants.
Maryland Appellate Court Affirms Trial Court on Value of Husband’s Business as Well as Several Other Divorce-Related Issues
In this Maryland divorce case, the Court of Special Appeals affirmed the trial court on all appealed issues including marital property determinations; monetary award to the wife; determination of incomes of the husband and wife; and determinations of alimony, child support, and related expenses. The Court of Special Appeals also affirmed that the husband’s business was not a gift and was marital property, and it determined the value of the business as the wife’s expert presented. Both parties were forensic accountants.
Nothing personal about goodwill in dental practice
In a South Carolina divorce case, the appellate court reversed the family court on the issue of personal versus enterprise goodwill.
Snyder v. Snyder
In this Pennsylvania divorce matter, the appellate court accepted the wife’s valuation of the marital business using the “gross sales approach,” despite the husband’s objection that she was not qualified to determine the value. The trial court master recommended the wife’s value be accepted. However, the appellate court finds that the trial court double counted four business assets and remanded for a redetermination of the marital estate.
Court Affirms Acceptance of the Wife’s Gross Sales Valuation Method for the Marital Business, Remands for Double Counting of Business Assets
In this Pennsylvania divorce matter, the appellate court accepted the wife’s valuation of the marital business using the “gross sales approach,” despite the husband’s objection that she was not qualified to determine the value. The trial court master recommended the wife’s value be accepted. However, the appellate court finds that the trial court double counted four business assets and remanded for a redetermination of the marital estate.
Bostick v. Bostick
The South Carolina Court of Appeals, in this divorce case, reversed the family court and included all goodwill of a dentistry practice as enterprise goodwill includable in the marital estate. The family court had included all of the goodwill as personal goodwill not part of the marital estate. The Court of Appeals also reduced the temporary monthly alimony.
Appellate Court Reversed Decision and Treated All Goodwill as Enterprise Goodwill Includable in the Marital Estate
The South Carolina Court of Appeals, in this divorce case, reversed the family court and included all goodwill of a dentistry practice as enterprise goodwill includable in the marital estate. The family court had included all of the goodwill as personal goodwill not part of the marital estate. The Court of Appeals also reduced the temporary monthly alimony.
Asare v. Asare
In this marital dissolution appellate case, the appellate court must resolve a number of issues related to the equitable distribution of the marital estate. On most issues, the appellate court affirmed the trial court. However, the appellate court reversed the trial court on the issue of how much passive appreciation related to an investment account was includable in the marital estate.