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

ANDREW R. LUNN, DDS v. CAROLE MICHELLE LUNN
Appeal from the Chancery Court for Hamilton County
No. 11-0240 Jeffrey M. Atherton, Chancellor
No. E2014-00865-COA-R3-CV-FILED-JUNE 29, 2015

Robert Vance testified as a forensic CPA and business valuation analyst in this bench trial.

The 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.