Todd v. Todd was decided in 1969.
The parties had been married for more than 17 years. During the marriage the husband obtained a law degree and started practicing law.
One of the issues in the family law court was the value of the law practice itself. Although the non-attorney spouse could not own an interest in the practice, she could receive half the value of the business. The court valued the business and awarded the wife half the value. The wife appealed the order stating that the court did not consider the accounts receivable in the value of the law practice.
The appellate court agreed with the wife. It stated that the accounts receivable should be a factor considered in the valuation of the business.
If you need legal advice and are looking for a family law lawyer in Orange County to address a dissolution issue such as the value of a family business or other divorce matter such as legal separation, annulment, custody, child support, spousal support and/or property division, please consider Treviño Law in your divorce attorney search. We are located in Laguna Hills right off Lake Forest exit to both the 405 and 5 freeway.
Although the posting of this information can be considered free legal advice for a divorce in Orange County, it does not address other factors which may play a significant role in a particular dissolution. Circumstances in your divorce may alter the results in your dissolution.
Please note that this legal advice does not establish a family law attorney-client relationship. This is a legal advertisement for Treviño Law, Inc.
