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Valuing Licenses and Degrees, New York Style

By William C. Quackenbush
November 29, 2006

Editor's Note: New York often serves as a leading venue for concepts in matrimonial law. Although states differ widely on valuation issues such as personal and organizational goodwill, the concept of value to a professional license or degree has a certain amount of differentiation to the marital pot.

A Case Study

Jim and Sally were in love. They knew they were meant to be from the moment they first met. They married during their junior year in college; Sally was a pre-law student, Jim, pre-med. Alas, the fairy tale didn't last. In order to make ends meet, Sally dropped out of college and worked as a waitress to put Jim through college and med school, and to survive financially during his internship and residency. Shortly after Dr. Jim finished his fellowship in vascular surgery and set up his practice in the pricey Upper East Side of Manhattan, he announced to Sally he was starting a new fairy tale with his nurse'

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