New Jersey Divorce : Professional Practice Valuation

Reasonable litigants and their experts can and often do differ on the fair market value of the assets subject to equitable distribution. More unusual, however, is disagreement over when a particular asset is to valued. Here, there was a significant difference in the value of the husband's ophthalmology practice (a) as of the date of the marriage and (b)its decreased value at the time of the filing of the divorce complaint. The trial court found that the husband had stonewalled discovery and therefore estopped him from using the latter value. The Appellate Division affirmed these rulings. Cooper v. Cooper, New Jersey App. Div., December 8, 2004.