The New York court in Hirschfeld v. Hirschfeld held that under the state's equitable distribution statute a husband's interest in his law prac- tice constitutes marital property subject to equitable division upon divorce. The court noted the lack of a valuation standard in both the statute and the state case law and applied an Internal Revenue Service formula to calculate the amount of goodwill in the law practice. The court divided that amount equally and awarded the wife $6,900, over three years, as her share of the husband's net income from his law practice.
David W. Hagy,
Valuation of Spousal Interest in a Professional Practice for Equitable Distribution: Hirschfeld v. Hirschfeld,
U. Rich. L. Rev.
Available at: https://scholarship.richmond.edu/lawreview/vol17/iss2/7