Personal goodwill: It’s not just for professional firms

Description

Abstract: Family courts across the country struggle with the issue of goodwill. In a recent divorce case, South Carolina adopted the majority view that business goodwill is a marital asset that’s subject to division but personal goodwill isn’t. This article explains the state Supreme Court decision to include business goodwill in marital estates and provides guidance on how to bifurcate goodwill into these two categories in future cases. Moore v. Moore, 2015 S.C., Opinion No. 27579, October 7, 2015