Equitable methodology to apportion the enhanced value

Reference no: EM133681776

Question

Walter inherited the auto repair shop from his uncle valued at $50,000 and as noted above, even though he received this during marriage, because it was a bequest the business is Walter's SP. Walter, however, spent his time and effort working at the auto shop during marriage (he quit his prior job and began sole management of the repair shop). Further, the shop flourished due to Walter's expertise, and it doubled in value to $100,000 in the 5 years since he inherited it. The business itself remains Walter's SP, however his labor during marriage is CP and the community is entitled to compensation for the CP labor that contributed to the increase in value of the shop. Courts have typically used two main methods (Pereira and Van Camp discussed below) to apportion the enhanced value of a SP business due to CP labor during marriage. The court may choose one of the two methods, combine them, or apply any equitable methodology to apportion the enhanced value.

Reference no: EM133681776

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