Slutsky v. Slutsky – Experts battle over value of law firm in New Jersey divorce

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Abstract: The appropriate treatment of goodwill in divorce cases varies from state to state, requiring experts to consult with legal counsel. The value of goodwill is subject to equitable distribution in New Jersey, similar to the treatment of goodwill in several other jurisdictions. This article summarizes a recent New Jersey court of appeals case that serves as a primer for valuing a partnership interest in a law firm, including the goodwill component. It explains why the appellate court reversed and remanded this case to the trial court. Slutsky v. Slutsky, N.J. Sup. Ct., App. Div., Nos. A-5829-13T1, A-2813-14T1, Aug. 8, 2017