Big Divorce Mistake #9: Not Getting a Business Valuation to Save Money
Often, businesses are the most valuable asset in a marital estate. Only appropriately credentialed professionals are qualified to issue an opinion as to fair market value for this marital asset. In a divorce before a marital estate is divided, assets must be identified, classified (marital or separate), and valued. To learn more, see Business Valuation in […]
Read More»Hidden Agenda? AICPA Opens ABV to Non-CPAs
CPAs Object to AICPA Rebranding ABV Credential In May 2018 the American Institute of Certified Public Accountants (AICPA) Council voted to open its Accredited in Business Valuation (ABV) designation to non-CPAs. Given the swift and relentless blow-back, the AICPA may have misjudged membership’s support for what appears to be an ‘ends justify the means’ dilution […]
Read More»Divorcing Wife Entitled to Extra Time To Complete Business Valuation
Tennessee case summary on business valuation in divorce and gifting a painting. Jennifer Kate Watts v. Scottie Lee Watts The husband and wife in this Shelby County, Tennessee, case had been married for twenty years and had two minor children at the time of their 2014 divorce. The wife was a certified public accountant, and […]
Read More»Cardiologist Ordered to Alimony in Futuro After 26 Yr Marriage
Tennessee alimony divorce case summary after 26 years married and cardiologist practice valuation. Alexander Stratienko v. Lisa Stratienko The husband and wife in this Hamilton County, Tennessee, case were married in 1989 and had two adult daughters. The husband was a cardiologist in Chattanooga who had started his own practice in 1999. The parties also […]
Read More»NEW TN LAW in 2017: Discounts in Business Valuations Allowed
- At August 15, 2017
- By Miles Mason
- In Business Valuation, News
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A change to Tennessee property division law in 2017 will have a huge impact many upcoming business valuations in divorce. Dividing property in dissolution proceedings involves assessing many types of assets, including professional practices and small businesses. Whenever a business asset is owned partially or wholly by a spouse, a business valuation is necessary before […]
Read More»Double Dipping in Tennessee Divorce Means Double Trouble (Part III)
In this final segment of our 3-part series on double dipping in Tennessee divorce, the trouble with double counting is focused on the closely held business or professional practice. (Read Part I and Part II of this series.) Anyone who has pushed through a business start-up appreciates the sweat equity required in the early days. […]
Read More»Pulmonology Practice Valued at $586K not $8.5K in Divorce
Tennessee alimony divorce case summary after 16 years married and valuation of medical practice. Matthew Wheeler Mabie, M.D. v. Carla Jennings Mabie The parties in this Shelby County, Tennessee, divorce case were married in 1997 and had two children who attended private schools in Memphis. At the time of their 2013 divorce trial, both the […]
Read More»Business Value of Construction Co. in Divorce Rejected
Tennessee case summary on business valuation in divorce and alimony after 27 years. Cathy Turnbo Franks v. Ronald Franks Ronald and Cathy Franks were married in 1986 and separated in 2011. They had two children who were both over the age of majority at the time of the divorce. They jointly owned a construction business, […]
Read More»Husband’s Share of Debt Should Be Same As Share of Property
Tennessee case summary on property division in divorce. Kim Lewis Neas v. Patricia Erskine Heffernan Neas The husband and wife in this Tennessee divorce case were married in 1985. At the time of their divorce, they had one child who was still a minor, a 15 year old son. During the marriage, they jointly owned a welding […]
Read More»Electrical Business Valued at $260,000. Goodwill Held Not To Be Divided in Divorce.
Tennessee law case summary on classification and business valuation in divorce law from the Court of Appeals. Susan Anne Ogles v. Thomas Wayne Ogles Susan and Thomas Ogles were married in 2001, when the wife was 54 years old and the husband 56. It was the fourth marriage for both. The husband owned an 88 acre […]
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