California Court of Appeal
272 Cal. App. 2d 786 (1969)
Mrs. Todd (plaintiff) and Mr. Todd (defendant) were married January 25, 1947. Shortly before their marriage, Mr. Todd went back to school on military education-funding programs. Mr. Todd attended law school and graduated with a law degree in 1951. Mrs. Todd worked prior to the marriage, while Mr. Todd was in school, and after Mr. Todd began practicing law. Mrs. Todd’s income contributed to the community and to paying for Mr. Todd’s education. The parties separated on December 26, 1964. In conducting the division of community assets, there was testimony before the trial court that Mr. Todd’s law practice earned approximately $23,412 per year. The trial court, in dividing the parties’ community property, valued Mr. Todd’s law practice at $9,866.47 based on goodwill, accounts receivable, and funds held in bank accounts. The trial court, however, did not award any portion of the $9,866.47 valuation of Mr. Todd’s law practice to Mrs. Todd in the division of their community property. Mrs. Todd appealed the trial court’s decision.
Rule of Law
Holding and Reasoning (Bray, J.)
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