Opinion ID: 2353046
Heading Depth: 3
Heading Rank: 2

Heading: Good Will Derived from Alan's Investment Business

Text: [¶ 17] Alan also contends that the court erred by classifying good will derived from his investment business as divisible marital property, arguing that nearly all of the intangible value of Hess Investments consists of personal good will attributable solely to him, and that that good will cannot be considered as divisible marital property. Alan urges us to adopt two concepts of good will: enterprise good will, which is readily transferable and, thus, can be divisible marital property, and personal good will, which is inextricably linked to an individual and, therefore, not divisible marital property. See May v. May, 214 W.Va. 394, 589 S.E.2d 536, 541-42 (2003). On the evidence presented to the court in this case, however, we find it unnecessary to adopt either concept of good will. [¶ 18] Both Alan's expert and Rhonda's expert testified that a large portion of the value of Hess Investments stems from good will, and both experts assigned a value to the business, using an income as well as a market approach to calculate the value. Although they had different opinions as to what Alan could expect to receive upon transferring that business, both experts testified that the good will of the business had substantial value that could be quantified and realized from a sale of the business. After discussing the different approaches of each of the two experts who testified as to the valuation of Hess Investments, the District Court expressly found the approach, methodology and factors utilized by [Rhonda's expert] more reliable in establishing the fair market value for Hess Investments, and thereby adopt[ed] that opinion of value as the finding of value in this case for Hess Investments. [¶ 19] The court's finding that the intangible assets of Hess Investments, including the company's good will, are transferable, and can be valued as divisible marital property, is supported in the record, and the court did not err in concluding that the good will value of Alan's business is a marital asset.