MUM’s the word – Court upholds simplified method to allocate goodwill in divorce
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Description
Abstract: When the marital estate in a divorce case includes a private business interest, a valuation expert may be needed to allocate value between personal and business goodwill. To determine the proper allocation, courts increasingly are accepting a straightforward approach known as the multiattribute utility model (MUM). This article explains how this model works and how it was accepted in a recent Illinois Second District Court of Appeals case. In re Marriage of Preston, No. 2-17-0656, Ill. App., Aug. 1, 2018
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