Cases Citing Vance

A Few of the Cases that Cite Robert Vance's Testimony or Publications in the Opinion

On this page you can find articles and sample reports in downloadable PDF form. Click through to the article for the full content and downloadable PDF.

Mabie v. Mabie - 2017 - Alimony Calculations and Business Valuation By Vance

Filed January 9, 2017. This case arises out of a divorce action. Case involves testimony by Vance concerning the value of a multi-physician medical practice in which enterprise goodwill was allowed although not called that by name. Also, Vance's detailed Marital Balance Sheet and Alimony Need and Ability to Pay schedule was essential for Wife to receive permanent alimony or alimony in futuro.

Lunn v. Lunn - 2015 - No Goodwill in Dental Practice Due to it Being a Sole Proprietorship

Trial court ruled that dental practice had enterprise goodwill. Based on the precedent of Hartline, the Eastern Section COA determined that the adoption of a valuation that expressly included enterprise goodwill was erroneous because the business involved was a sole proprietorship. The COA remanded for the trial court to determine the value of the dental practice without consideration of professional or enterprise goodwill.

Ray v. Ray - 2014 - Equal Division of Business

Vance valued the business as the mutual expert and testified as to value and owner compensation.

Vinson v. Vinson - 2013 - Vance's Article on Child Support and W-2's Cited

Robert Vance, “The W-2 as Roadmap for Tennessee Child Support Guideline Income,” Family Practice, The Newsletter for the Family Law Section of the Tennessee Bar Association (August 2002) (discussing the various boxes and which should be used in different circumstances).

Eberting v. Eberting - 2012 - Enterprise Goodwill Allowed in Orthodontic Practice

Tennessee Court of Appeals Eastern Section - Filed February 27, 2012; Robert Vance testified as the expert witness in this case in Knoxville, TN. Vance valued the orthodontic practice at $700,000 using a combination of the Market Transaction Method with data from the Goodwill Registry and the Capitalization of Net Cash Flow Method. The opposing expert valued the practice at $224,000 using the Adjusted Net Asset Value Method, which was lower than the price Husband paid for the practice a few years before. The Trial Court ultimately ruled the value to be $500,000 which was a value placed on the practice personally by the Husband in several personal financial statements filed with banks. The Trial Court was very aware that the $500,000 value did include an element of goodwill.

Roach v. Dixie Gas Company et al. - 2011 - Vance Gives Opinion of Zero Damages

Tennessee Court of Appeals Western Section – Filed November 14, 2011; “Finally to rebut the economic conclusions of the Plaintiffs’ economist, Dr. Bates, the Defendants proffered the testimony of William Robert Vance (‘Mr. Vance’), a forensic accountant and business evaluation analyst. Mr. Vance was sharply critical of Dr. Bates’ ‘economic potential’ projection that, were it not for the Dixie Gas explosion, Mr. Roach could have made $325,000 in 2006. He explained that, in 2005, the Roaches’ tax returns showed that they had a loss of $27,000 for the year, and that ‘[t]o go from losing $27,000 in ‘05 to making [$325,000] in ‘06, absolutely does not add up. [Mr. Roach has] never made that much money ever in his life in one year.’ Referring to Dr. Bates’ assertion that the Roaches had lost some $4 million in ‘economic potential,’ Mr. Vance characterized it as ‘a ludicrous claim.’ Mr. Vance concluded that the Roaches’ ‘economic loss is zero.’ “At the conclusion of trial, the jury returned a unanimous verdict in favor of the Defendants. The Appellate Court stated: “From our careful review of all of the evidence submitted at trial, we find ample evidence to support the jury’s verdict of zero damages.”

Lofton v. Lofton - 2008 - "Oddities" in the Accounting Practices

Tennessee Court of Appeals Western Section – Filed December 30, 2008; At the February 2005 hearing, Ms. Lofton’s expert William Vance, a forensic CPA, indicated that Mr. Lofton might be using his association with his daughter, Ms. Lofton-Welles to hide business assets. Although Mr. Vance conceded that he could find no empirical evidence to conclusively support his suspicions (in part, because he was denied access to the “books and records of the Lofton-Welles Agency”), he testified that there were “oddities” in the accounting practices of the Lofton Insurance Agency, and that there was “certainly the ability to manipulate income.”

Powell v. Powell - 2003 - Owner Held to Values He Listed in Personal Financial Statements

Tennessee Court of Appeals Western Section - Filed April 7, 2003; Fair Market Value Standard as in IRS Rev. Rul. 59-60 does not have to be strictly followed when valuing a business in a divorce. Business owners can be held to values declared by them in personal financial statements submitted to banks. Credentials and experience of business valuation analysts are critical.