Legal Question in Business Law in California

Practice appraisal for goodwill

I am a fully vested partner in a Radiology medical group pratice. My interest in the practice was recently appraised for settlement in a divorce suit brought on by my wife. A "goodwill" value of $55,000.00 was added to the value of the practice even though our buy-sell agreement states that no "goodwill" exists. Furthermore, no physician entering or leaving the group in the past 12 years have contributed to nor received any monies related to "goodwill". How can I argue this case and get the "goodwill" value dropped from the overall value of the pratice?


Asked on 10/27/97, 11:49 pm

1 Answer from Attorneys
Lee R. Albert PACIFIC LAW NETWORK

Trial or settlement tactics should be discussed with you attorney

This is a question that is really more of a family law question than a business law question. The trial and/or settlement tactics that you chose to employ should be discussed with the attorney representing you in the Dissolution. I presume that the person doing the appraisal was hired on behalf of your wife. You should discuss having your own appraisal done. I would be hesitant to blindly argue evaluation of the business without more details, but in general one appraisal is not necessarily the final word. If the person doing the appraisal considered factors which are not applicable to the proper evaluation of the business, then his credibtility, or at least the validity of his appraisal, may be subject to attack.

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Answered on 10/28/97, 2:54 am


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