Property Characterization

Property valuation and distribution are often the significant issues in a dissolution of marriage action. Ms. Amado has taken a special interest in professional goodwill – “celebrity goodwill” and executive goodwill – which refers to defining an individual’s extraordinary earning capacity as an asset and then seeking to value it. She was an early voice against California characterizing goodwill in an individual as a quantifiable and divisible asset. (Ms. Amado was pleased to see the majority adopt this view in Marriage of McTiernan and Dubrow, 133 Cal.App.4th 1090, 35 Cal.Rptr.3d 287 (2d Dist. 2005), the California appellate court’s first opportunity to address the issue. Ms. Amado hopes that the ruling in McTiernan and Dubrow will be used to roll back findings of goodwill as a quantifiable asset in solo and small professional practices.) For more information, please see Ms. Amado’s articles on the topic in the Articles section.

Ms. Amado also has a particular interest in the scope of fiduciary duties between spouses. It is well settled that a fiduciary duty exists between marital partners to manage the community assets in the best interests of both parties and to be candid with one another in disclosing all information regarding the existence and value of marital assets. Applying the general rules often raises interesting questions regarding the timing of disclosures, whether disclosure is an absolute duty, whether the non-managing spouse has any parallel responsibilities to keep herself or himself informed independent of the managing spouseâ??s obligation to disclose. An excellent article on marital fiduciary duties is Marshall S. Zolla and Deborah E. Zolla, â??Marital Duty,â?? Los Angeles Lawyer, Vol. 26, No. 11, February 2004.

To speak with Ms. Amado or to make an appointment to see her regarding your client's property issues and possible appellate representation or assistance, please contact her at (310) 550-8214.