2d at 270). We strive to provide accurate information, however, Courtreference.com is not an official source of information for any court or court clerk. The business entity constitutes a marital asset and is subject to F.S. Moorish Supreme Court Of Equity And Truth (Common Law Court) is a Florida Fictitious Name filed on December 28, 2015. Generally, this means that family courts are supposed to deal fairly and equally with all the concerned parties. Equitable distribution falls under Fl. Where the excess over assets would represent the goodwill.). Being in a court of equity also means that you are unlikely to get monetary damages because damages are considered a legal, not an equitable, remedy. Fair market value is generally considered to be a premise of valuing, governing the assumptions.).  Thompson emphasized that a determination of existence and value of goodwill is a question of fact and should be determined on a “case by case basis.”, One year after Thompson, Young v. Young, 600 So. ); Held v. Held, 912 So. To learn more, click the following link: Do not sell my info, Protection, No Contact, and Restraining Orders. The Florida Family Courts are courts of equity. In this case, the parties stipulated to the net book value of the business. The goal of equitable remedies is to place the injured party in the position they were in before the injury occurred.  The court’s determination of fair market value was based upon the assumption that in any sale of the business that the husband would not sign a covenant not to compete, but a nonpiracy/nonsolicitation agreement. Requests to the Florida Supreme Court for official public records should be made in writing pursuant to Rule of Judicial Administration 2.420 to firstname.lastname@example.org.  It is personal goodwill that Florida courts hold is “not proper in the consideration of dividing martial property,” rather, it is deemed an intangible asset arising from the unique skills, efforts, personality, and reputation of the individual. All valuations by the wife’s experts assumed a noncompete agreement.  Held, 912 So. at 270 (The “market value approach” is best described as what would a willing buyer pay, and what would a willing seller accept, neither acting under duress for a sale of the business.  However, the use of such data was limited in the case of Weinstock v. Weinstock, 634 So. What happens in a dissolution of marriage when a Florida court is tasked to value and distribute a business entity?  Thompson, 576 So. 3d at 31; Walton, 657 So. Marital assets and liabilities are usually divided equally among the couple. © 2008 – 2020 PeopleConnect, Inc. All Rights Reserved. 2d at 1214; Held, 912 So.  Thompson v. Thompson, 576 So. Please do not include any confidential or sensitive information in a contact form, text message, or voicemail. Miami-Dade County has a different organizational structure for its trial court system and divides jurisdiction between courts differently than the rest of the state. 2d at 1142) (The court concluded that neither appraisal conformed to the formula found in Thompson, and rejecting both. “Enterprise goodwill” is deemed an intangible asset that arises from unique advantages of the business, such as its location, employees, strategy, and brand name recognition. It helps to understand how the Florida state court system works when you’re trying to find court records. Meeting Your Child’s Special Needs After Separation. 3d 381, 390 (Fla. 1st DCA 2014). Stat. at 269 (citing Hanson v. Hanson, 738 S.W.  Walton v. Walton, 657 So.  Id. The company's filing status is listed as Active and its File Number is G15000130978.The company's principal address is Post Office Box 181095, Casselberry, FL 32718.  Doug Twitchell, BVR’s Guide to Personal Goodwill v. Enterprise Goodwill (5th ed. 2d at 267; Schmidt, 120 So. The wife’s expert opinion also would not be competent evidence under Judge Goshorn’s reasoning in Young since there was no attempt to deal with the problem of the continued presence of the dentists after the comparable sales took place.
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