Sentences with phrase «personal goodwill»

But his suggestion still depends on the continuing personal goodwill of the individual theologian.

One of the great challenges of handling professional practices in divorce is to recognize, quantify and protect personal goodwill — and find other ways to compensate the professional's spouse in a divorce.

A recent unpublished opinion Court of Appeals opinion, Herring - Wilson v. Wilson, highlights a common fallacy in valuing small personal services businesses for purposes of equitable distribution: treating personal goodwill as marital property.

The October 7, 2015 Supreme Court opinion in Moore v. Moore, 414 S.C. 490, 779 S.E. 2d 533 (2015), is the first published South Carolina appellate opinion to distinguish personal goodwill from enterprise goodwill for equitable distribution purposes.

2005), the appeals courts held that an insurance agent's personal relationship with 60 condominium associations was personal goodwill not transferable to a purchaser, and thus not marital property.

Rathmell, 732 SW2d 6; Objection to goodwill expert; Trial Ct valuing Community - owned insurance agencies for division upon divorce should have excluded value attributable to personal goodwill of husband — time, toil, and talent of husband to be expended following divorce.

While most jurisdictions will include the value of «enterprise goodwill» in a business appraisal, many will exclude «personal goodwill.»

Tags: Business Valuation, Equitable Distribution / Property Division, Personal Goodwill, South Carolina Court of Appeals, Unpublished Opinions Posted in Equitable Distribution / Property Division, Not South Carolina Specific, Of Interest to Family Court Litigants, Of Interest to Family Law Attorneys, South Carolina Appellate Decisions No Comments»

The husband had argued that the representation of future earnings should not have been considered in determining the value of the firm, as that was his «personal goodwill.»

Even businesses that do not involve licensed professionals might have an element of personal goodwill.

Personal goodwill is not self - evident.

Personal goodwill is not marital property if it is not transferable to a seller.

Yet, if a practice has a high degree of personal goodwill, then the risk of double dipping is reduced, because the practice may not be divided as marital property.

For instance, in 2005, a Florida appeals court held that personal goodwill was not marital property in connection with an insurance agency.

In many jurisdictions, personal goodwill may not be counted as marital property.

In the world of forensic accounting, this concept is known as «personal goodwill.»