Cheryl inherited her husband's 50 percent interest in a trucking and crop-spraying business in northeast Nebraska. There was no buy-sell and no mechanism to value Cheryl's shares.
The company had over $1 million in assets but also $1m in debt. While the tax returns showed little profit the cash flow was solid and the debt could be serviced.
Cheryl filed an action for judicial dissolution of the corporation. Her husband's business partner filed a pleading stating that he would purchase her half interest for $40,000, but that was not accepted by Cheryl.
The case went to trial. Cheryl's expert valued the entire company at between ...
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On drafting your own will; wisdom from 1758
"AGAIN, the policy of all laws has made some forms necessary in the wording of last wills and testaments, and more with regard to their attestation. An ignorance in these must always be of dangerous consequence, to such as by choice or necessity compile their own testaments without any technical assistance. Those who have attended the courts of justice are the best witnesses of the confusion and distresses that are hereby occasioned in families; and of the difficulties that arise in discerning the true meaning."
Source: Blackstone’s Commentaries, Introduction (1758) ...
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Red Willow County family war
Joan Jane Barger died testate (with a will) in January 2012. In August 2019, the litigation finally ended. She had five children and one child was not a beneficiary under her will. Joan's will also had a no contest provision stating essentially that if any beneficiary contested her will, then they would take nothing.
The omitted child, William, did contest the will and asserted that one of his brothers had asserted undue influence on their mother in drafting her final will. Some of Joan's children who did take under the will helped pay for the will contest filed by William, but they were not plaintiffs in the case.
It was held that the ...
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