Golden v. Golden was decided in 1969 and is one of the first cases to hold that a professional practice may have good will.
The parties had been married for six years. The husband was a doctor and owned a medical practice.
The family law judge found that the medical practice was a community asset and that the wife was entitled to half the good will value in the professional field.
The husband appealed. The Second Appellate District Court upheld the order. It explicitly held that the good will of the husband’s professional practice as a sole practitioner should be taken into consideration.
If you need legal advice and are looking for a family law lawyer in Orange County to address a dissolution issue such as the valuation of a business or any 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.