Hardware Store

1
Hardware Store

• Property Acquired During Marriage by Either or
  Both is Marital
• Marital Property Valued as of DOS 100,000
• Postseparation Appreciation is Not Marital
  Property
• Divisible if not caused by a spouse
• Distribution factor if caused by a spouse

2
Gifts During Marriage

• Separate if Gifted to A Spouse by 3rd Party
• Gifts Between Spouses are Marital Unless Contrary
  Intent Stated in Conveyance
• Tenancy by the Entirety Gift Between Spouses
  Presumed
• Joint Account No Gift Presumption

3
Joint Account

• Gift to Henry from Mom Separate 51,000
• No Evidence of Gift to Marriage by Placing Funds
  in Joint Account
• Account is a Distribution Factor

4
Marital Home

• Tenancy by the Entirety Henrys Separate
  Property Presumed Gifted to Marriage
• DOS Net Value 110,000
• DOT Net Value 117,000
• 7,000 Postseparation Appreciation
• Divisible if not caused by efforts of spouse
• No Credit for Alimony

5
Mixed Assets

• Each Estate Entitled to Interest in DOS Net Value
  Equal to
• Total Contribution by that Estate
• Plus a reasonable return on the investment
• Each estate is entitled to an interest in the
  property in the ratio its contribution bears to
  the total investment in the property. Wade

6
Michler 90 NCAPP 72 formula

• Marital Property (Total Marital Contribution
  Over Total Contribution) x DOS Net Value
• Separate Property (Total Separate Contribution
  Over Total Contribution) x DOS Net Value

7
Beach House

• Mixed Asset
• Separate Contribution 13,000
• Marital Contribution 12,000
• Apply Michler formula to 75,000 DOS Net Value
• Marital Property 36,000 (.48)
• Separate Property 39,000 (.52)

8
Beach House

• 15,000 Postseparation Appreciation
• No Evidence of Effort Appreciation of Marital
  Interest is Divisible
• Apply Michler formula percentages
• Divisible Property 7,200 (.48)
• Separate Property 7,800 (.52)

9
Wilmas Pension

• Pensions are Marital to Extent Earned During
  Marriage and Before DOS
• Must Determine Present Value on DOS 27,000
• 2/3rds is Marital Property
• Marital Interest 18,000
• Separate Interest 9,000

10
Personal Property

• Ring A Gift Between Spouses Marital
• Piano Not Owned by Either on DOS
• Watch Marital (1,000) and Divisible (200)
• Quilt Marital Value is Credibility Issue
• Coat A Gift Between Spouses Marital

11
Marital Debt Capital Dept. Store

• Marital Debt is Debt
• Owed by Either or Both on DOS
• Incurred During Marriage and Before DOS
• Incurred for Joint Benefit of the Parties
• 5,000 ??? (Probably Joint Benefit)