Section 15.40 Professional Practices

• Library: Family Law Deskbook and 2014 Supp

B. (§15.40) Professional Practices

Professional goodwill acquired during the marriage may be subject to division if it can be proven to exist. The leading case on this issue in Missouri is Hanson v. Hanson, 738 S.W.2d 429 (Mo. banc 1987). Hanson expanded to professional practices the long-held view that the goodwill of a business is property. Hanson defined goodwill in a professional setting as “the value of the practice which exceeds its tangible assets and which is the result of the tendency of clients/patients to return to and recommend the practice irrespective of the reputation of the individual practitioner.” Id. at 434. Goodwill is property that attaches to and depends on an existing business entity rather than the reputation and skill of an individual. Id. Proof of the existence of professional...