Category: Marital Property

Double Dip and Goodwill Considered by Wisconsin Supreme Court

Last month the Wisconsin Supreme Court weighed in on two issues that are important to family lawyers and their clients who operate professional practices like physicians, lawyers, dentists and accountants. In Marriage of McReath, the Wisconsin Supreme Court ruled that “saleable” goodwill would be considered marital property, in a case where a dentist argued that “personal” goodwill should not be counted as part of the marital estate. The Court also […]

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5 Settlement Documents that Divorcing Business Owners Must Have

June 08, 2011 | Blog, Business Valuation, Divorce, Marital Property, Settlement

Icon for author Brian Vertz Brian Vertz

When business owners get divorced, their settlement may have profound consequences for the business and other owners. Often, one spouse “sells” or gives up a share of the business to the other spouse. Since most small business owners do not have enough cash to pay a lump sum for that share, they might have to make installment payments over months or years. It is critical to structure the divorce settlement […]

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Iowa Rejects Rule of Thumb Business Valuation in Divorce

February 11, 2011 | Blog, Business Valuation, Court Decisions, Divorce, Marital Property

Icon for author Brian Vertz Brian Vertz

A recent decision of the Iowa Court of Appeals illustrates the perils of reliance upon industry rules of thumb to value a business in matrimonial litigation. In Marriage of Hagar (11/24/2010), husband and wife purchased a dry cleaning business from a trust established by husband’s parents as part of a business succession plan. Husband and wife agreed to a $300,000 purchase price that was determined by the companies’ accountant. The trust […]

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