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Divorce Valuations—Who Owns the Personal Goodwill?

 Divorce Valuations—Who Owns the Personal Goodwill?
CPE Credit

Program Type: Recorded Webinar(Audio, PPT Presentation)
Program Level: Intermediate
Prerequisites: Learning activity level that builds on a basic program most appropriate for individuals with detailed knowledge in an area
Advanced Preparation: Prior valuation experience recommended, but not required
Delivery Method: Group Internet-Based
CPE Credits: Two (2) Hour
Fields of Study: Business Law
Item Number: 17PFFCHI0608D
Shipping Weight: 0lbs. 0oz.
Price: $110.00
Program Description

Can the value of marital property be greater than the value of property legally owned by a spouse? Can a spouse have a marital property interest in personal goodwill in which the shareholder has no legal interest? Some states treat personal goodwill as a non-marital asset while other states treat both personal and enterprise goodwill as marital property. Under Federal tax law, corporations do not own the personal goodwill of its shareholders. In a divorce valuation of a corporation which involves personal goodwill, what is the appraiser to do? How should personal goodwill be treated in a business valuation for divorce purposes? This webinar will discuss these issues and provide guidance for the valuation analyst.

Learning Objectives

After completing the session, attendees will be able to:

- Describe that personal goodwill is not an asset belonging to a corporation under Federal tax law
- List the differences among states in the treatment of personal goodwill as marital property
- State the importance of applying local law in business valuations for divorce
- Analyze personal goodwill in a divorce valuation context
- Illustrate a cogent analysis of personal goodwill in a valuation report

Who Should Attend

Financial Professionals

Alan Zipp
Mr. Alan Zipp is a Certified Public Accountant, Attorney at Law, Certified Valuation Analyst, Certified Business Appraiser, AICPA Accredited in Business Valuation, Certified Fraud Examiner, author, lecturer, and discussion leader for the AICPA and several professional organizations. He has written books, articles, and papers on topics ranging from tax matters, litigation support, business valuation, and legal issues. He wrote the AICPA Business Valuation Methods course. For more than 20 years he was an AICPA instructor for various courses, including income tax workshops, business valuation, and financial training programs. In the course of his practice, Alan Zipp has been called on to provide expert witness testimony at divorce trials on a wide range of tax and financially-related issues including pension and business valuations. He has served on AICPA Committees, he was Chairman of his local Bar Association's Taxation Section and he was elected Treasurer of that Bar Association.