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"Valuation and Distribution in Changing Times"
Authors: ​
Peter J. Galasso, Esq.
Joel A. Rakower, CPA
New York State Bar Association
Practicing Matrimonial and Family Law in Chaotic Economic Times P
art II

 

"Resurrecting the Manheim Declaration"

Author: Peter Galasso
Nassau Lawyer

May 2019 Publication

 

 

"It's All About The Multiples"
Author: Peter Galasso
The Suffolk Lawyer - June/July 2018

"The Art of Business Valuations"

Author: Peter Galasso
Family Law Review

Submitted for Fall 2016 Publication

Most matrimonial practitioners confronted with a divorce case involving a complex business valuation often wisely turn to their favorite business valuator for help.  While historically a business valuator could rely on a normalized five year financial look back to establish an estimate of future cashflows and, therefore, potentially opine an approximate value for a company. 

 


"The Death of Double-Dipping in Divorce Context?"

Author: Peter Galasso
The New York Law Journal

 

Occasionally, the Appellate Division, Second Department, speaks with illuminating clarity. In Palydowycz v. Palydowycz (NYLJ, April 14), it did just that. In doing so, it had to overturn the contrary precedent established in 2010 by an appellate panel composed of its very own members. It also abandoned a fundamentally logical and commonsensical rule of law that it had embraced for the prior six years. Significant to the divorcing business owners out there, their maintenance payments under Payldowycz are likely to be far greater. To the maintenance payee counterpart, Palydowycz is a cause for celebration. 

"Economy's Role in Valuation Dates for Business Assets in Divorce Cases"

Author: Peter Galasso

New York Law Journal

Volume 244

Copyright 2010 ALM Media Properties, LLC

Thursday, November 18, 2010

In selecting a proper valuation date for an active business asset that needs to be equitably distributed as an incident to a divorce, judges and matrimonial practitioners alike now recognize they can no longer rigidly apply archaic law to our incontrovertibly new, unpredictable and often volatile economic times. Historically, the courts applied a simple test in determining whether a particular asset should be valued as 
of the date of commencement or the date of trial. >READ MORE


 

"A Keane Double-Dipping Miscalculation and the Vanishing Monied Spouse"

Author: Peter Galasso, Jeffrey L. Catterson and Joel Rakower

NYSBA Family Law Review | Winter 2008 | Vol. 40 | No. 4

Exhaustive scholarly analyses on the double-dipping,or double-counting, phenomenon have adorned the pages of various legal publications since its initial recognition in McSparron v. McSparron.1 As we all know, in McSparron, the Court of Appeals held that maintenance awards are not to be drawn from the income stream that was relied upon in the calculation of the value of an equitably distributed marital asset.

"Divorcing?  Move to Connecticut"

Author: Peter Galasso

New York Law Journal

Volume 239

Copyright 2008 ALM Properties, Inc. All rights reserved.

Monday, February 25, 2008

 

If an unscrupulous New York monied spouse plans to divorce, he should first convince his wife to relocate the family to Connecticut and, once jurisdiction attaches, start his divorce action there. Compared to the tolls taken in New York, Connecticut runs an E-ZPass lane to divorce. 

"The Slippery Slope of Egregious Fault"

Author: Peter Galasso

New New York Law Journal

Copyright 2006

Friday, September 15, 2006

 

The slippery slope of egregious fault which Justice Jacquelline Silbermann expanded from the nearly homicidal conduct depicted in Havell v. Islam, 186 Misc. 2d 726, to the simply unacceptable conduct observed in DeSilva v. DeSilva is an inherently dangerous and misguided precedent which should be universally rebuked rather than lauded by the matrimonial bar. 

"Judges Should Encourage 'Leading' at Bench Trials"

Author: Peter Galasso

New New York Law Journal

Volume 235

Copyright 2006 ALM Properties, Inc. All rights reserved.

Tuesday, January 10, 2006

At a bench trial, which is a judge's main stage in matrimonials, the prohibition against leading questions of a witness-proponent has become an anachronism. Although the public and the business world now thrive on their rapid access to information, judges continue to lag behind by allowing their records to become obfuscated and their trials delayed by tolerating and even tacitly encouraging repeated objections over the form of a question. 

 

"No-Fault Divorce Long Overdue"

Author: Peter Galasso

New York Law Journal

Volume 231

Copyright 2005 ALM Properties, Inc. All rights reserved

Thursday, February 24, 2005

High praise to Chief Judge Judith S. Kaye for her ringing endorsement of no-fault divorce (NYLJ, Feb. 8). As every Matrimonial attorney knows, the only reason the issue of fault ever rears its ugly head is to extort from the party eager for a divorce property or income not otherwise available under New York's equitable distribution and support statutes.  

"Something Smells Like Marital Waste"

Author: Peter Galasso

NYSBA Family Law Review

Vol. 36 No. 2

Copyright 2004

Fall 2004

 

Reminded of Justice Potter Stewart's now and forever famous definition of pornography, "...I know it
when I see it..." I am of the opinion that beyond the obvious, judges tend to find marital waste only 
when they smell it. With that in mind, this article is intended as a quick refresher on the confounding 
world of marital waste. 

"Terse Decisions May Result In More Appeals"

Author: Peter Galasso

New York Law Journal

Volume 230

Copyright 2003 ALM Properties, Inc. All rights reserved

Friday, July 25, 2003

In considering an article in the Law Journal about the increased case load the Second Department is confronting,Tom Liotta's lament over the terse and unenlightening decisions too often churned out by the Appellate Division (NYLJ, May 14, 2003), and Brian J. Isaac's attempt at defending our overworked judiciary (May 19, 2003), I read with heightened interest the Second Department's decision in Eisenstadt v. Eisenstadt(May 27, page 25, column 5) where the court...  

"Judiciary Is Confused Over Child Support Act"

Author: Peter Galasso

New York Law Journal

Letters to the Editor

Copyright 2003

Tuesday, February 4, 2003

 

Kudos to Timothy M. Tippins for his cutting edge insights into the inequities endorsed by a confused judiciary over its application of Child Support Standards Act (NYLJ, Jan. 15 and 16, page 4). Indeed, in those cases involving a license or practice distribution, the judiciary's oppressive disregard of the actual arithmetic that predicates its awards is daunting. 

 

 

"Relocation of Parent  Addressed in Browner"

Author: Peter Galasso

New York Law Journal

Volume 230

Copyright 2003

Monday, October 20, 2003

 

If the courts were to adopt the thinking of Philip C. Siegel and Larry A. Cohen, as articulated in their article encouraging 'Forensic Assessments in Custodial Relocation Cases' (NYLJ, Aug. 13, 2003), the cost of virtually every relocation may prove to be too exorbitant for the potentially relocating parent to even bother. However,

contrary to the authors' view of the world, not every relocation case should ignite a full-blown forensic work-up. 

"Legislature Treats Attorneys Unfairly"

Author: Peter Galasso

New York Law Journal

Copyright 2002

Tuesday, May 21, 2002

 

An article on April 20 "Foreclosure Bill Set to Pass Legislature," discussed impending legislation that would bar attorneys from compelling the sale of a client's house based upon an unpaid fee.  

Setting Aside Mediated Divorce Agreement

Author: Peter Galasso and Elayne E. Greenberg

New York Law Journal

Copyright 2000

Friday, November 3, 2000

 

The standards for reviewing the applications to set aside the parties' marital agreement have been firmly implanted in the minds of all matrimonial practitioners by the Court of Appeals seminal decision in Christian v. Christian. 

"Article on Matrimonial Law Struck a Chord"

Author: Peter Galasso

New York Law Journal

Volume 224, Number 7

© 2000 NLP IP Company

Wednesday, July 12, 2000

Letter To The Editor

 

As a matrimonial lawyer, I am a huge believer that something must be done to obviate the “climate of incivility” in the courtroom. However, Judge Bruce Balter and Michael J. Simone's article (Aug. 25), “How Judges Can Enforce Civility By Punishing Frivolous Conduct” (NYLJ, page 1) is certainly not the answer. Not only is the

line in the sand that separates frivolity from creative lawyering nearly indiscernible, it is the very reason why there are so few reported decisions on that issue. Today's allegedly frivolous argument is not so infrequently tomorrow's laws. 

"That Double-Dipping Grunfeld"

Author: Peter Galasso

The Attorney Of Nassau County

May 2000

Matrimonial practitioners are uniformly cynical about how the Court of Appeals decides family law matters.  Indeed, it is generally acknowledged among the more erudite in the matrimonial community that one of their main and most noble priorities. 

"Creativity is Not Incivility"

Author: Peter Galasso

New York Law Journal

Volume 220, Number 45

Copyright 1998 by the New York Law Publishing Company

Wednesday, September 2, 1998

Stanley S. Arkin's June 8 article exploring the “Line Between ‘Negotiation and Extortion’ ” struck a chord familiar to many of us who practice matrimonial law. In virtually every divorce something peculiar, embarrassing or downright humiliating about one of the parties can potentially become the focal point of an advocate's attack. 
 

 

"Extreme Measures"

Author: Peter Galasso

New York Law Journal

New York Law Publishing Company

Friday, January 3, 1997

 

MONEY IS POWER. Not unexpectedly, its redistribution shifts the balance of that power. Historically, government's primary tools for reallocating wealth had been confined to changes in the tax laws and affirmative action initiatives. However, those who govern have been left little room for bridging the gap between the haves and have-nots. 

"Worker's Comp. Law's Retroactivity Issue"

Author: Peter Galasso

New York Law Journal

Copyright 1997

May 28, 1997

Letters: To the Editor

 

If I see another letter, article or case seeking to interpret the legislative history of the Omnibus Workers; Compensation Reform Act of 1996.  

"Zeal Seems Misguided On Children's Behalf"

Author: Peter Galasso

New York Law Journal

Copyright 1996

August 6, 1996

Letters: To the Editor

 

In Auguino v. St. Steven's Hungary School, (NYLJ, July 18), Justice Emily Jane Goodman rejected a proposed Infant's Compromise Order made pursuant to CPLR§ 1208 as insufficient, noting that the "court is not a rubber stamp and [its] role in ensuring that the interests of infant plantiffs are fully protected, is one of the more serious responsibilities presented to the courts'. 

"Validating Hocus Pocus"

Author: Peter Galasso

New York Law Journal

Copyright 1995 by The New York Law Publishing Company

Volume 214-NO.53

Thursday, September 14, 1995

RICHARD COULD NOT be consoled. His 5 year old son had been kidnapped; at least that is how he saw it. Before Tyler could pull back his words, they had become the catalyst for a full-blown investigation by Child Protective Services, followed closely be a neglect proceeding.  

"Nexus of Child's Need To Income Seems Lost"

Author: Peter Galasso

To the Editor New York Law Journal

Copyright 1995 by The New York Law Publishing Company

Thursday, June 8. 1995

 

Lost in the recent "Family and the Law" column (NYLJ May 10) analyzing the Court of Appeals' decision in Cassano v. Cassano is the head-shaking astonishment of most matrimonial practitioners.  In dicta, the high court has challenged an approach taken by judges and counsel alike, who have demanded a nexus between a non-custodial parent's child support obligation and the child's actual need in applying the Child Support Standard Act. 

 

"Prejudging the Arbitration of Custody"

Author: Peter Galasso

New York Law Journal

Copyright 1994 by The New York Law Publishing Company

Wednesday, November 23, 1994

 

Before all hope of arbitrating custody and visitation is lost in the popular discourse of "public policy", 
"parens patriae", and a "child's best interests", the pragmatic voices of the parents affected thereby, 
and who are constitutionally empowered to make the day-to-day decisions involving their children 
must be heard. 

"Whose Children Are They Anyway?"

Author: Peter Galasso

New York Law Journal

Volume 211, Number 82

Copyright 1994 by The New York Law Publishing Company

Friday, April 29, 1994

 

Lisa teaches disabled children at a local elementary school.  She is a divorced mother of three, the oldest having just celebrated his fifth birthday. Jessica, who is two years old, suffers from congenital disorder that necessitates therapy three afternoons a week.  

"Rolling the Dice "Pendente Lite""

Author: Peter Galasso

New York Law Journal

Volume 211, Number 82

Copyright 1994 by The New York Law Publishing Company

Friday, April 29, 1994

 

During the pendency of her divorce action, and for the past eighteen (18) months, your client has been making voluntary payments to her spouse, in an amount commensurate with the Child Support Standards Act.  When a minor glitch stalls negotiations, your client is suddenly served with a pendente lite application which demands, among the other things, that she pay one-half of the
carrying charges on a marital residence long since vacated. 

"Consider Annulment as a Strategic Option"

Author: Peter Galasso

To the Editor New York Law Journal

Volume 201, Number 110

Copyright 1989 by The New York Law Publishing Company

Friday, June 9, 1989

 

In reading the May 23 “Law and the Family” article, I thought of the numerous uncontested divorces that remain susceptible to an upward modification pursuant to Domestic Relations Law Section 236(B)(9)(b), despite being short-lived in duration. Clearly, since most divorces are punctuated by the parties' mutual dislike for one another, a former spouse's decision to seek an upward modification of an expired maintenance award, rather than pursue welfare benefits, is not so remote.

"Retort to Flummery"

Author: Peter Galasso

To the Editor New York Law Journal

Volume 201, Number 110

Copyright 1989 by The New York Law Publishing Company

October 18, 1989

 

I cannot recall when I last read a more distorted piece of cynicism than that which Justice David Saxe entitled, "Flummery" in his Oct. 3 article.  Apparently, in the light of Justice Saxe's impression that attorneys are disingenuous by nature, we must now avoid uttering respectful admiration of the work of presiding judge which is perceived as "rhetorical flourish" by a holier-than-thou Chief of the Court.