A Guide to Resources in the Law Library
· “The purpose of alimony is to meet one's continuing duty to support . . . while the purpose of property division is to unscramble the ownership of property, giving to each spouse what is equitably his.” Weiman v. Weiman, 188 Conn. 232, 234, 449 A.2d 151 (1982).
· “At the time of entering a decree annulling or dissolving a marriage or for legal separation pursuant to a complaint under section 46b-45, the Superior Court may assign to either the husband or wife all or any part of the estate of the other. The court may pass title to real property to either party or to a third person or may order the sale of such real property, without any act by either the husband or the wife, when in the judgment of the court it is the proper mode to carry the decree into effect.” Conn. Gen. Stat. § 46b-81(a) (2008). Note: Effective October 1, 2005 “. . . civil union shall be included in such use or definition.” Conn. Gen. Stats. § 46b-38oo (2008).
· “There are three stages of analysis regarding the equitable distribution of each resource: first, whether the resource is property within § 46b-81 to be equitably distributed (classification); second, what is appropriate method for determining the value of the property (valuation); and third, what is the most equitable distribution of the property between the parties (distribution). Krafick v. Krafick, 234 Conn. 783, 792-793, 663 A.2d 365 (1995).
· Connecticut’s all property equitable distribution scheme: “It does not limit, either by timing or method of acquisition or by source of funds, the property subject to a trial court’s broad allocative power.” Ibid., 792.
· Civil Union: “Applicability of statutes to civil unions, civil union status and parties to a civil union. Wherever in the general statutes the terms ‘spouse’, ‘family’, ‘immediate family’, ‘dependent’, ‘next of kin’ or any other term that denotes the spousal relationship are used or defined, a party to a civil union shall be included in such use or definition, and wherever in the general statutes, except sections 7-45 and 17b-137a, subdivision (4) of section 45a-727a, and sections 46b-20 to 46b-34, inclusive, 46b-38nn and 46b-150d, the term ‘marriage’ is used or defined, a civil union shall be included in such use or definition. Wherever in the general statutes, except sections 46a-60, 46a-64, 46a-64c and 46a-66, the term ‘marital status’ is used or defined, civil union status shall be included in such use or definition.” CONN. GEN. STATS. § 46b-38oo (Effective October 1, 2005).
Sections in this chapter:
§ 1. Connecticut's all property equitable distribution scheme
§ 2. Classification of property
§ 4. Specific issues in property valuation
§ 6. Factors in equitable distribution of property
Tables in this chapter:
Table 1. ALR Annotations on Classification of Marital Property
Table 2. Valuing and Distributing Pensions and Retirement Benefits
Table 3. QDROs: Sample & Model Forms
Table 4. ALR Annotations on Property Valuation
Table 5. Factors for consideration in equitable distribution of property
Table 6. Treatment of various types of property in each stage of determination
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SCOPE: |
Bibliographic resources relating to Connecticut’s all property equitable distribution scheme in distributing property as part of an action for dissolution, legal separation or annulment of marriage or civil union, effective October 1, 2005.
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CURRENCY: |
· 2008 Edition
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DEFINITIONS: |
· “It is black letter law that Connecticut is an equitable distribution property state . . . .” Wendt v. Wendt, 59 Conn. App. 656, 662, 757 A.2d 1225 (2000) (emphasis added).
· “At the time of entering a decree annulling or dissolving a marriage or for legal separation pursuant to a complaint under section 46b-45, the Superior Court may assign to either the husband or wife all or any part of the estate of the other.” Conn. Gen. Stat § 46b-81(a) (2008) (Emphasis added).
· "This approach to property division is commonly referred to as an 'all-property' equitable distribution scheme." Krafick v. Krafick, 234 Conn. 783, 792, 663 A.2d 365 (1995) (emphasis added).
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CASES: |
· Radcliffe v. Radcliffe, 109 Conn. App. 21, 26 Fn.6, 951 A.2d 575 (2008). “In O'Neill, we observed that ‘an equitable distribution of property should take into consideration the plaintiff's contributions to the marriage, including homemaking activities and primary care taking responsibilities’; O'Neill v. O'Neill, [300]supra, 13 Conn. App. 311; and that ‘a determination of each spouses' contribution within the meaning of General Statutes § 46b-81 includes nonmonetary as well as monetary contributions.’ (Internal quotation marks omitted.) O'Neill v. O'Neill, [300] supra, 312.
· Ricciuti v. Ricciuti, 74 Conn. App. 120, 124 (2002). “Here, the defendant began receiving a pension from the Department of Defense after his retirement in 1996. The pension accrued over twenty-two years, during nineteen of which the parties were married. The court, therefore, correctly determined that the defendant's pension was subject to distribution under § 46b-81.”
· Mongillo v. Mongillo, 69 Conn. App. 472, 481-482, 794 A.2d 1054 (2002). “In fashioning its orders for the disposition of property, the court is obligated to consider the statutory factors relating to the disposition of property in marital dissolution. See General Statutes § 46b-81. The statutory scheme setting forth the criteria for the court's exercise of discretion in making property awards provides no support for the plaintiff's argument that it was error for the court not to award the plaintiff a portion of the defendant's retirement benefits.”
· Wendt v. Wendt, 59 Conn. App. 656, 673, 757 A.2d 1225, cert. den. 255 Conn. 918. (2000). “The court made extraordinary efforts to ensure that the valuation and the division of the marital property was within the bounds of our statutes, case law and constitution. We will not disturb the court's thoughtful analysis and conclusion, which falls well within the bounds of its broad discretion.”
· Lopiano v. Lopiano, 247 Conn. 356, 365, 752 A.2d 1000 (1998). “Recent decisions from this court have indeed empowered trial courts to deal broadly with property and its equitable division incident to dissolution proceedings.”
· Watson v. Watson, 221 Conn. 698, 607 A 2d. 383 (1992). “Trial court must be accorded discretion in fashioning equitable assignment of property. The power to act equitably is the keystone to the court’s ability to fashion relief in the infinite variety of circumstances which arise out of the dissolution of a marriage.”
· Weiman v. Weiman, 188 Conn. 232, 235, 449 A.2d 151 (1982). “The division of property was structured in such a manner as to return to the defendant her contribution and that of her family. Payments for the defendant's counsel fees, medical bills, her out standing debts and any capital gains tax on the property were to be made from the proceeds resulting from the sale of the real estate. The defendant, in addition, is to receive significant sums of money and one-half the remainder of the net proceeds from the sale of the real estate.” The alimony awarded the defendant was not substantial in amount nor was it for a long period of time. When considered, in the context of other orders which required the plaintiff to pay for the full support, college education, and medical expenses of the five children of the marriage and to maintain insurance on his life for the benefit of the defendant, we cannot say the award is clearly erroneous.”
· Lane v. Lane, 187 Conn. 144, 444 A.2d 1377 (1982). “Differences inherent in particular family situations require that the court’s discretion be broad enough to make suitable orders upon dissolution of marriage to fit the circumstances.”
· Carpenter v. Carpenter, 188 Conn. 736, 740-741, 453 A.2d 1151 (1982). 'While the trial court must consider the delineated statutory criteria, no single criterion is preferred over the others, and the court is accorded wide latitude in varying the weight placed upon each item under the peculiar circumstances of each case."
· Tsopanides v. Tsopanides, 181 Conn. 248, 435 A.2d 34 (1980). “The principal issue raised by this appeal is whether in a dissolution action the court may properly render a judgment ordering the conveyance of property to a party who has not filed a claim for such relief.”
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WEST KEY NUMBERS: |
· Divorce # 248. Disposition of Property # 252.3. —Particular property or interests and mode of allocation
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ENCYCLOPEDIAS: |
· 27B C.J.S. Divorce (1986). § 508 Disposition of Property
· 24 Am Jur 2d Divorce & Separation (1998) Equitable Distribution [§§ 484-586] In general (§§ 484-496] § 484. Generally § 485. Limitations on court's discretion § 487. Community property distinguished § 490. Alimony or maintenance distinquished § 491. Constitutionality of equitable distribution statutes
· Lee R. Russ, Annotation, Divorce: Equitable Distribution Doctrine, 41 ALR4th 481 (1985). II. General aspects of equitable distribution § 3. Marriage viewed as partnership or shared enterprise § 4. Goal is final separation of parties § 5. Extent of application of equitable distribution doctrine [a] View that doctrine is generally available III. Meaning of “Equitable, “ “Just,” or “Fair” V. Relationship between property division and support award § 16. Equitableness of award requires consideration of all economic awards |
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TEXTS & TREATISES: |
· 2 Elizabeth Williams, Marital Property Law (rev. 2d ed. 2008) Chapter 43. Equitable distribution doctrine § 43:1. General aspects of equitable distribution § 43:2. Meaning of "Equitable," "Just," or "Fair"
· John DeWitt Gregory et al. Property Division in Divorce Proceedings: A Fifty State Guide (2003). § 2.08. All property distribution
· 3 Arnold H. Rutkin, Family Law and Practice (2008). Chapter 37. Principles of property division § 37.01 Theories and Principles [b] Equitable distribution: an overview [i] Equitable distribution defined [ii] Goals of equitable distribution [iii] Validity of equitable distribution statutes [v] "All property" regimes
· Brett R. Turner, Equitable Distribution of Property (3rd ed. 2005). Chapters 1. Introduction to equitable distribution § 1.01 The Equitable Distribution Concept § 1.02 Equitable Distribution: History and Background § 1.03. Constitutionality
Chapter 2. Property Division Systems § 2.01. Introduction § 2.02. Goals of Property Division § 2.05. Community Property § 2.07. Equitable distribution: all property model § 2.09. All property versus dual classification: a comparison
· Valuation and distribution of Marital property (2008). Chapter 18. Property subject to equitable distribution § 18.01. Introduction § 18.02. Concept of “property” § 18.03. Types of marital property § 18.04. Times for acquisition of marital property § 18.05. Exclusions from marital property Chapter 19. Determining factors in equitable distribution of marital property § 19.01. Overview § 19.02. Valuation date § 19.03. Factors in general
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LAW REVIEWS: |
· Judith I. Avner, Using The Connecticut Equal Rights Amendment At Divorce To Protect Homemaker’s Contributions To The Acquisition Of Marital Property, 4 Univ. of Bridgeport Law Review 265 (1983).
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COMPILER: |
Lawrence Cheeseman, Supervising Law Librarian, Connecticut Judicial Branch Law Library, One Court Street, Middletown, CT 06457. (860) 343-6560. Email. |
A Guide to Resources in the Law Library
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SCOPE: |
Bibliographic resources relating to what types of property are classified as property in Connecticut as part of an action for dissolution, legal separation or annulment of marriage or civil union, effective October 1, 2005.
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CURRENCY: |
· 2008 Edition
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DEFINITION: |
· Classification of marital property: “whether the resource is property within § 46b-81 to be equitably distributed . . . .” Krafick v. Krafick, 234 Conn. 783, 792-793, 663 A.2d 365 (1995).
· Marital property: “At the time of entering a decree annulling or dissolving a marriage or for legal separation pursuant to a complaint under section 46b-45, the Superior Court may assign to either the husband or wife all or any part of the estate of the other. The court may pass title to real property to either party or to a third person or may order the sale of such real property, without any act by either the husband or the wife, when in the judgment of the court it is the proper mode to carry the decree into effect.” Conn. Gen. Stats. § 46b-81 (2008).
· Interpreting the term property broadly is also consistent with the purpose of equitable distribution statutes generally.” Krafick v. Krafick, 234 Conn. 783, 795, 663 A.2d 365 (1995).
· Types of property interests: “Neither § 46b-81 nor any other closely related statute defines property or identifies the types of property interests that are subject to equitable distribution in dissolution proceedings. Our prior cases interpreting § 46b-81 indicate, however, that in enacting § 46b-81, the legislature acted to expand the range of resources subject to the trial court's power of division, and did not intend that property should be given a narrow construction.” Bornemann v. Bornemann, 245 Conn. 508, 515-516, 752 A.2d 978 (1998).
· Property interest vs. expectancy: “ . . . § 46b-81 applies only to presently existing property interests, not ‘mere expectancies.’” Krafick v. Krafick, 234 Conn. 783, 797, 663 A.2d 365 (1995).
· “Thus, Sunbury requires that in dissolution proceedings, the court must determine whether an asset was earned prior to or subsequent to the date of dissolution in order to determine whether the asset is marital property.” Bornemann v. Bornemann, 245 Conn. 508, 521, 752 A.2d 978 (1998). |
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STATUTES: |
· Conn. Gen. Stat. (2008) § 46b-81(a). “At the time of entering a decree annulling or dissolving a marriage or for legal separation pursuant to a complaint under section 46b-45, the Superior Court may assign to either the husband or wife all or any part of the estate of the other. The court may pass title to real property to either party or to a third person or may order the sale of such real property, without any act by either the husband or the wife, when in the judgment of the court it is the proper mode to carry the decree into effect.” [emphasis added].
· § 46b-81(a) (eff. October 1, 2005). “. . . a civil union shall be included in such use or definition.”
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CASES: |
· Kiniry v. Kiniry, 71 Conn. App. 614, 624 (2002). “On the one hand, stock options that are awarded prior to the date of dissolution and awarded solely for past services are considered to be earned during the marriage and are, therefore, considered marital property subject to equitable distribution under § 46b-81 . . . . On the other hand, stock options that are earned prior to the date of dissolution, but that constitute compensation for future services, are not considered to be earned during the marriage and, therefore, are not subject to distribution as marital property under § 46b-81.”
· Bender v. Bender, 258 Conn. 733, 748, 785 A.2d 197 (2001). “[I]n determining whether a certain interest is property subject to equitable distribution under § 46b-81, we look to whether a party's expectation of a benefit attached to that interest was too speculative to constitute divisible marital property . . . . In cases in which an interest was so speculative as to constitute a mere expectancy, we concluded that it was not property subject to equitable distribution . . . whereas, in cases in which an interest was not so speculative as to constitute a mere expectancy, but rather a presently existing interest in property, we treated it as property subject to equitable distribution.”
· Borneman v. Borneman, 245 Conn. 508, 517-518, 752 A.2d 978 (1998). “Despite the fact that the stock options at issue in this case had not yet "matured" or "vested" at the time of dissolution, the options created an enforceable right in the defendant.”
· Simmons v. Simmons, 244 Conn. 158, 168, 708 A.2d 949 (1998). “Consequently, we conclude that an advanced degree is properly classified as an expectancy rather than a presently existing property interest. It is not, therefore, subject to equitable distribution upon dissolution pursuant to § 46b-81.” · Krafick v. Krafick , 234 Conn. 783,793, 663 A.2d 365, (1995). “We first consider whether pension benefits should be classified as property pursuant to § 46b-81. We conclude that they should.”
· Cooley v. Cooley, 32 Conn. App. 152, 162-163, 628 A.2d 608, cert. denied 228 Conn. 901, 634 A.2d .295 (1993). “The plaintiff had no vested right at any time to the trust corpus that would permit its inclusion in the marital estate.”
· Rubin v. Rubin, 204 Conn. 224, 232, 527 A.2d 1184 (1987). “We have concluded that the award to the defendant of a share of the plaintiff's expectancy cannot be sustained as a permissible transfer of property under 46b-81.”
· Trubowitz v. Trubowitz , 5 Conn. App. 681, 687, 502 A.2d 940 (1985). “No statute requires a trial court to make an equal percentage division of all assets. There is often good reason to treat assets differently. Some assets, such as a business dependent upon the personal services of one party, or objects of art or personal furnishings, cannot be divided equally per item or in toto. One party or the other may have a particular interest in, or claim to, a particular asset, and a trial court is not hampered in making whatever distribution of them it chooses, as long as it does so in accordance with statutory guidelines.”
· Krause v. Krause, 174 Conn. 361, 365, 387 A.2d 548 (1978). “‘Expectancy’ is the bare hope of succession to the property of another, such as may be entertained by an heir apparent. Such a hope is inchoate. It has no attribute of property, and the interest to which it relates is at the time nonexistent and may never exist.”
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WEST KEY NUMBERS: |
· Divorce # 248. Disposition of property # 252. 3. ¾ Particular property or interests and mode of allocation
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ENCYCLOPEDIAS: |
· 24 Am. Jur. 2d Divorce and Separation (1998). §§ 477-606. Division of property by court §§ 497-517. Property Subject to Distribution §§ 518-547. Specific Types of Property §§ 518-522. In general §§ 523-526. Marital residence §§ 527-531. Professional degrees, license, and practice §§ 532-536. Pension rights; other benefit payments and awards §§ 537-540. Government pensions §§ 541-547. Other benefit payments and awards
· 27C C.J.S. Divorce (1986). §§ 508-610. Disposition of property §§ 514-526. Property or interests subject to disposition §§ 549-571. Specific kinds of property or interests §§ 549-552. Homestead or marital residence §§ 553-559. Retirement, pension, other employment-related benefits §§ 560-571. Other kinds of property or interests
· See Table 1 for ALR annotations
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TEXTS & TREATISES: |
· 7 Arnold H. Rutkin and Kathleen A. Hogan, Connecticut Practice, Family Law and Practice with Forms (1999).Chapter 26. Assets subject to distribution§ 26.1. In general § 26.2. Definition of property § 26.3. Identification of particular assets for distribution § 26.4. Realty § 26.5. Marital home § 26.7. Personal property and rights § 26.8. Financial interests § 26.9. Insurance annuities and other policy benefits § 26.10. Receivables § 26.11. Pension and retirement benefits and interests § 26.12. Other employment related benefits and assets § 26.13. Professional licenses and degrees § 26.14. Business interests and professional practices § 26.15. Gifts § 26.16. Inheritances, trusts and other estate interests § 26.17. Property acquired before the marriage § 26.18. Property acquired after dissolution action commenced § 26.19. Fraudulent transfers and property transferred while action is pending § 26.20. Debts and liabilities § 26.21. Tort and worker's compensation claims and other pending actions
· John DeWitt Gregory et al. Property Division in Divorce Proceedings: A Fifty State Guide (2003).Chapter 3. Recurrent classification issues
· Brett R. Turner, Equitable Distribution of Property (3rd ed. 2005).Chapter 5. Classification§ 5.01. Importance of classification § 5.02. Classification process § 5.03. Burden of proof § 5.06. Property Chapter 6. Specific Property§ 6.01. Introduction § 6.02. Future benefits plans: background and terminology § 6.04. Military retirement pay: federal law § 6.05. Other military service benefits: federal law § 6.06. Other federal government benefits: federal law § 6.07. Private future benefits plans: federal law § 6.11. Method for distributing retirement benefits § 6.15. Stock options and other restricted employment benefits § 6.19. Workers' compensation awards § 6.20. Degrees and licenses § 6.22. Professional practices and other businesses § 6.23. Intellectual property § 6.24. Prizes and awards § 6.25. Marital home § 6.26. Insurance proceeds and policies § 6.27. Future inheritance and gifts § 6.29. Debts
· 3 Arnold H. Rutkin, Gen. Ed., Family Law and Practice (2008). Chapter 36. Valuation of marital property § 36.03. Defining property [1]. Professional degrees and licenses [2]. Professional goodwill [3]. Retirement benefits Chapter 37. Principles of property distribution § 37.04. Classification of property § 37.07. The marital home § 37.08. Business interests § 37.09. Professional goodwill § 37.10. Increased earning capacity resulting from a professional license, graduate degree, or education § 37.11. Retirement benefits § 37.12. Federal government benefits [1] Social security [2] Military retirement § 37.13. Personal injury, workers' compensation, and other awards and claims § 37.14. Debts Chapter 38. Guide to equitable distribution § 38.02. Step Number One: Property Subject to Distribution
· 2 & 3 John Tingley and Nicholas B. Svalina, Marital Property Law (rev. 2d ed. 2008). Chapter 4. Ownership of personalty by husband and wife Chapter 10. Pensions and reserve or retired pay § 10:1. Generally § 10:2. Spousal rights in retirement and pension benefits—Generally 10:5. —Military retirement pay Chapter 11. Wife’s personal earnings Chapter 12. Spouse’s cause of action for negligent personal injury Chapter 13. Satisfaction of spouse’s personal tort liability Chapter 27. Postnuptial and separation agreements Chapter 38. Service by wife in husband’s business Chapter 48. Spouse’s professional degree license as marital property § 48:1. Generally § 48:2. Professional goodwell § 48:3. Professional or business goodwill as marital property Chapter 49. Pension retirement benefits as subject to award or division Chapter 50. Accrued vacation, holiday time, and sick leave as marital or separate property Chapter 51. Workers’ compensation benefits as marital property Chapter 54. Appreciation in value of separate property during marriage without contribution by either spouse as separate or marital property Chapter 55. Treatment of stock options for purposes of dividing marital property
· 2 Richard E. Crouch, Family Law Checklists (2001). Chapter 8. Property division Checklist 8-1. Sketch of law nationwide Checklist 8-2. Divisible property types Checklist 8-3. Identification of property as separate or marital
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LAW REVIEWS: |
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COMPILER: |
Lawrence Cheeseman, Supervising Law Librarian, Connecticut Judicial Branch Law Library, One Court Street, Middletown, CT 06457. (860) 343-6560. Email.
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Table 1 ALR Annotations on Classification of Marital Property
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Accounting practice |
Michael J. McMahon, Annotation, Divorce And Separation: Goodwill In Accounting Practice As Property Subject To Distribution On Dissolution Of Marriage, 77 ALR4th 645 (1990).
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Attorney's unliquidated contingent fee contracts
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Charles W. Davis, Annotation, Divorce And Separation: Attorney's Contingent Fee Contracts As Marital Property Subject To Distribution, 44 ALR5th 671 (1996). |
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Degree or License |
William M. Howard, Annotation, Spouse’s Professional Degree Or License As Marital Property For Purposes Of Alimony, Support, Or Property Settlement, 3 ALR6th 447 (2005).
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Dental Practice
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Martin J. McMahon, Annotation, Divorce And Separation: Medical Or Dental Practice As Property Subject To Distribution On Dissolution Of Marriage, 76 ALR4th 1025 (1990).
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Intellectual Property
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Frank J. Wozniak, Annotation, Copyright, Patent, Of Other Intellectual Property As Marital Property For Purposes Of Alimony, Support, Or Divorce Settlement, 80 ALR5th 487 (2000).
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Law Practice
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Martin J. McMahon, Annotation, Divorce And Separation: Goodwill In Law Practice As Property Subject To Distribution On Dissolution Of Marriage, 79 ALR4th 171 (1990).
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Lottery Winnings |
Amy P. Bunk, Annotation, Division of Lottery Proceeds in Divorce Proceedings, 124 ALR5th 537 (2004).
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Medical Practice
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Martin J. McMahon, Annotation, Divorce And Separation: Medical Or Dental Practice As Property Subject To Distribution On Dissolution Of Marriage, 76 ALR4th 1025 (1990).
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Pension |
Charles C. Marvel, Annotation, Pension Or Retirement Benefits As Subject To Award Or Division By Court In Settlement Of Property Rights Between Spouses, 94 ALR3d 176 (1979).
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Personal Injury Settlement or Recovery |
Kurtis A. Kemper, Annotation, Divorce and Separation: Determination of Whether Proceeds from Personal Injury Settlement or Recovery Constitute Marital Property, 109 ALR5th 1 (2003). [Continued]
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Table 1 ALR Annotations on Classification of Marital Property (cont'd)
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Personal Injury Action
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Dale Joseph Gilsinger, Annotation, Spouse’s Cause Of Action For Negligent Personal Injury, Or Proceeds Therefrom, As Separate Or Community Property, 80 ALR5th 533 (2000).
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Retirement benefits |
Charles C. Marvel, Annotation, Pension Or Retirement Benefits As Subject To Award Or Division By Court In Settlement Of Property Rights Between Spouses, 94 ALR3d 176 (1979).
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Separate Property, Appreciation in value
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Michael A. Rosenhouse, Annotation, Divorce And Separation: Appreciation In Value Of Separate Property During Marriage Without Contribution By Either Spouse As Separate Or Community Property, 24 ALR4th 453 (1983).
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Sick leave |
Gavin L. Phillips, Annotation, Accrued Vacation, Holiday Time, And Sick Leave As Marital Or Separate Property, 78 ALR4th 1107 (1990).
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Stock options |
Eric Hollowell, Annotation, Divorce And Separation: Treatment Of Stock Options For Purposes Of Dividing Marital Property,” 46 ALR4th 640 (1986).
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Vacation (accrued) |
Gavin L. Phillips, Annotation, Accrued Vacation, Holiday Time, And Sick Leave As Marital Or Separate Property, 78 ALR4th 1107 (1990). |
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Workmen’s compensation |
Annotation, Divorce And Separation: Workmen’s Compensation Benefits As Marital Property Subject To Distribution,” 30 ALR5th 139 (1995).
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SCOPE: |
Bibliographic resources relating to valuation of property determined to be property assets relating to marriage or civil union in Connecticut, effective October 1, 2005.
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SEE ALSO: |
§ 4. Specific issues in property valuation
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CURRENCY: |
· 2008 Edition
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DEFINITIONS: |
· Fair market value: “the price that would probably result from fair negotiations between a willing seller and a willing buyer . . . .” Turgeon v. Turgeon, 190 Conn. 269, 275 (1983).
· “In assessing the value of the property taken, the trier arrives at his own conclusions by weighing the opinions of the appraisers, the claims of the parties, and his own general knowledge of the elements going to establish value, and then employs the most appropriate method of determining valuation. Esposito v. Commissioner of Transportation, 167 Conn. 439, 441, 356 A.2d 175; Textron, Inc. v. Wood, 167 Conn. 334, 345, 355 A.2d 307. The trial court has the right to accept so much of the testimony of the experts and the recognized appraisal methods which they employed as he finds applicable; his determination is reviewable only if he misapplies, overlooks, or gives a wrong or improper effect to any test or consideration which it was his duty to regard. Greenfield Development Co. v. Wood, 172 Conn. 446, 451, 374 A.2d 1084 (1977).
· Date of valuation: “This court held that, under § 46b-81, the date of dissolution is the appropriate date on which to value the parties’ assets . . . .” Bornemann v. Bornemann, 245 Conn. 508, 515-516, 752 A.2d 978 (1998).
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STATUTES: |
· Conn. Gen. Stat. § 46b-81 (2008). (c). “In fixing the nature and value of the property, if any, to be assigned, the court, after hearing the witnesses, if any, of each party, except as provided in subsection (a) of section 46b-51, shall consider the length of the marriage, the causes for the annulment, dissolution of the marriage or legal separation, the age, health, station, occupation, amount and sources of income, vocational skills, employability, estate, liabilities and needs of each of the parties and the opportunity of each for future acquisition of capital assets and income. The court shall also consider the contribution of each of the parties in the acquisition, preservation or appreciation in value of their respective estates.”
· CONN. GEN. STATS. § 46b-38oo (Effective October 1, 2005). “. . . a civil union shall be included in such use or definition.” |
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CHECKLISTS: |
· 3 Arnold H. Rutkin, Gen. Ed., Family Law and Practice (2008).Chapter 36. Valuation of Marital Property§ 36.16. Valuation checklist [1]. Marital assets [2]. Liabilities [a]. Debts [b]. Liability for debts of third person [3]. Documents
· 2 Richard E. Crouch, Family Law Checklists (2001). Chapter 8. Property division Checklist 8-4. Valuation
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CASES: |
· Sowinski v. Sowinski, 72 Conn. App. 25, 27, 804 A.2d 872 (2002). “On appeal, the defendant specifically challenges the court's finding with regard to the fair market value of the Copake property and requests that we reverse the court's financial orders. He points out that the parties disputed the value of the Copake property at trial despite the fact that they had stipulated to the value of the Salisbury property. The defendant argues that the court improperly admitted hearsay as to that issue and that the court relied on such hearsay, in the absence of any other competent evidence in support of its finding, when arriving at its valuation of the Copake property. We agree.”
· Porter v. Porter, 61 Conn. App. 791, 800, 769 A.2d 725 (2001). “Here, neither party provided the court with expert testimony as to the value of the home. As a result, the court was left with the claims of the parties and its general knowledge to establish the value of the home. According to the defendant, the value of the home was $285,000. The court, however, determined the value to be $270,000, a figure slightly less than the value proposed by the plaintiff, $271,750, which she derived from the mid range of a market analysis. Given the circumstances the court faced in determining the value of the marital home, we cannot conclude that its valuation of $270,000 was clearly erroneous.”
· Bender v. Bender, 258 Conn. 733, 760, 785 A.2d 197 (2001). “We conclude that it is within the trial court's discretion, as it is in the context of vested pension benefits . . . to choose, on a case-by-case basis, among the present value method, the present division method of deferred distribution, and any other valuation method that it deems appropriate in accordance with Connecticut law . . . .”
· Bornemann v. Bornemann, 245 Conn. 508, 531, 752 A.2d 978 (1998). “The court need not, however, assign specific values to the parties' assets.”
· Carlos v. Carlos, 19 Conn. App. 416, 419, 562 A.2d 580 (1989). “More important than any speculation about how the trial court might have arrived at the amount of the encumbrances is the fact that the parties had never agreed on these figures. We read the memorandum of decision as stating that the parties stipulated to facts including the total amount of the encumbrances. For that reason, we are constrained to find that the underpinning of the decision is not sound even though the award may be fair.”
· Cuneo v. Cuneo, 12 Conn. App. 702, 709, 533 A.2d 1226 (1987). “That requirement is simply part of the broader principle that the financial awards in a marital dissolution case should be based on the parties' current financial circumstances to the extent reasonably possible.”
· Turgeon v. Turgeon, 190 Conn. 269, 274-275, 460 A.2d 1260 (1983). “We have approved the capitalization of actual income as an appropriate method of valuation . . . . In the present case the defendant's company was, at the time of its valuation in 1980, a going concern. There was no evidence that it was in the process of liquidation. Although the trier was not obliged to accept the income approach he was not precluded from doing so merely because the company is a closely held, ‘one-man’ business.” · Valante v. Valante, 180 Conn. 528, 529-530, 429 A.2d 964 (1980). “The defendant first contends that the court could not properly decide the questions of periodic alimony and the assignment of property because it lacked sufficient information respecting the value of the plaintiff's interest in a closely held corporation, in his life insurance policies and in his pension rights. This position is curious. In addition to having access to the plaintiff's financial affidavit, the defendant was given a full opportunity to cross-examine the plaintiff at length regarding his financial circumstances. Further, the defendant had the opportunity to explore the plaintiff's financial circumstances through a variety of discovery procedures. Optimal use of the resources might well have generated additional pertinent facts for the court's consideration. From the defendant's failure to elicit such information, however, it in no way follows that the court acted on insufficient evidence. Reviewing the record in this regard, we find that there was sufficient financial information before the court for it to fashion the appropriate orders on the financial aspects of the case.”
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WEST KEY NUMBERS: |
· Divorce# 248. Disposition of property # 253. —Proceedings for division or assignment # 253(3). Valuation of assets
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ENCYCLOPEDIAS: |
· 24 Am. Jur. 2d Divorce and Separation (1998). §§ 574-586 Valuation §§ 574-579. In general § 575. Time of valuation § 576. Change in value after time of valuation § 577. Effect of dissipation of marital assets § 578. —Preventing dissipation § 579. Use and costs of experts to assist evaluation §§ 580-586. Specific types of property · 27B C.J.S. Divorce (1986). § 544. Valuation in general § 545. Time of valuation § 546. Expert evidence; appraisals · Sonja A. Soehnel, Annotation, Necessity That Divorce Court Value Property Before Distributing It, 51 ALR4th 11 (1987).
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TEXTS & TREATISES: |
· 7 Arnold H. Rutkin and Kathleen A. Hogan, Connecticut Practice, Family Law and Practice with Forms (1999).Chapter 27. Valuation of assets § 27.1. In general § 27.2. Date of valuation § 27.3. Valuation methods and criteria § 27.4. Book value § 27.5. Assessed value § 27.6. Sale price or purchase offer § 27.7. Appraisal § 27.8. Business type and history § 27.9. General economic conditions § 27.10. Earning capacity § 27.11. Size of holding § 27.12. Goodwill and intangible values § 27.13. Buy-sell agreements § 27.14. Other factors
· 2 Family Law Practice in Connecticut (1996).Chapter 12. QDROs and other Considerations for Retirement Plan Assets (by Elizabeth Lorion McMahon).
Chapter 13. Valuation of assets (by Lorraine D. Eckert)I. The Need for valuation II. How to value the asset A. Valuation from inference, admission, owner’s testimony B. Expert testimony C. How does the court determine value D. Evidence: estimated versus speculative E. Taxation
· John DeWitt Gregory et al. Property Division in Divorce Proceedings: A Fifty State Guide (2003).Chapter 4. Valuation of assets—General principles
· Brett R. Turner, Equitable Distribution of Property (3rd ed. 2005).Chapter 7. Valuation of Assets§ 7.01. Need to value § 7.02. Date of valuation § 7.03. General rule: fair market value § 7.04. Determining value: rules for the Court § 7.05. Determining value: Advise for the parties
· Ronald L. Brown, ed. Valuing Professional Practices and Licenses, A guide for the Matrimonial Practitioner (3rd ed. 2004). Part A: Basic concepts in valuing professional practices Part B: Valuing law practices Part C: Valuing medical practices Part D: Valuing accounting practices Part E: Valuing architectural and engineering practice Part F: Valuing professional degrees and licenses Part G: Merger and double counting Part H: Handling celebrity cases Part I: Miscellaneous topics
· 3 Arnold H. Rutkin, Gen. Ed., Family Law and Practice (2008).Chapter 36. Valuation of Marital Property§ 36.02. The valuation process—an overview § 36.06. The date of valuation § 36.07. Discovery § 36.09. Valuation expert
· 2 & 3 John Tingley and Nicholas B. Svalina, Marital Property Law (rev. 2d ed. 1995).Chapter 44 Necessity that divorce value property before distributing itChapter 56. Valuation of stock options for purposes of divorce court’s property distribution
· 2 Richard E. Crouch, Family Law Checklists (2001). Chapter 8. Property division Checklist 8-4. Valuation
· Barth H. Goldberg, Valuation of Divorce Assets (1984).Chapter 1. Valuation process—Generally Chapter 2. Experts and the use of them Chapter 3. Understanding accounting protocol Chapter 4. Use of financial statements Chapter 5. Financial statement analysis
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LAW REVIEWS: |
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COMPILER: |
Lawrence Cheeseman, Supervising Law Librarian, Connecticut Judicial Branch Law Library, One Court Street, Middletown, CT 06457. (860) 343-6560. Email.
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SCOPE: |
Bibliographic resources relating to the valuation of specific types of assets including pensions, professional licenses, degrees, and QDROs.
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CURRENCY: |
· 2008 Edition
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DEFINITIONS: |
· Goodwill: “It can hardly be doubted that the increment of value, loosely termed goodwill, that arises from the established reputation of a business for the quality of its goods or services may often be found to enhance the value of professional as well as other enterprises by increasing their ability to attract patrons.” Eslami v. Eslami, 218 Conn. 801, 813, 591 A.2d 411 (1991).
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STATUTES: |
· Conn. Gen. Stat. (2008) § 46b-81. Assignment of property and transfer of title · 2005 Conn. Acts 10 § 15 (eff. October 1, 2005). “. . . a civil union shall be included in such use or definition.” · 42 USC (1998) § 407 (a). Assignment; amendment of section. |
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CHECKLISTS: |
· 3 Arnold H. Rutkin, Gen. Ed., Family Law and Practice (2008).Chapter 36. Valuation of Marital Property§ 36.16. Valuation checklist [1]. Marital assets [2]. Liabilities [a]. Debts [b]. Liability for debts of third person [3]. Documents
· 2 Richard E. Crouch, Family Law Checklists (2001). Chapter 8. Property division Checklist 8-4. Valuation
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CASES: |
· Kiniry v. Kiniry, 71 Conn. App. 614, 624 (2002). “On the one hand, stock options that are awarded prior to the date of dissolution and awarded solely for past services are considered to be earned during the marriage and are, therefore, considered marital property subject to equitable distribution under § 46b-81 . . . . On the other hand, stock options that are earned prior to the date of dissolution, but that constitute compensation for future services, are not considered to be earned during the marriage and, therefore, are not subject to distribution as marital property under § 46b-81.”
· Eslami v. Eslami, 218 Conn. 801, 814, 591 A.2d 411 (1991). “We reject the notion that professional goodwill may be evaluated without consideration of the salability of the practice and the existence of a market for its purchase.”
· Sunbury v. Sunbury, 13 Conn. App. 651, 659-660, 538 A.2d 1082 (1988). “With regard to the valuation of the marital residence, we hold that the trial court's finding was solidly based on the evidence produced at trial. The defendant testified that the fair market value of the home was $75,000. The court was entitled to accept this testimony, especially in light of the fact that the only evidence produced by the plaintiff as to the value of the home was the testimony of an expert who did not know how many rooms the house had.”
· Krafick v. Krafick, 234 Conn. 783, 799, 663 A.2d 365 (1995). “We next must determine how vested pension benefits should be valued and distributed. The task of properly valuing pension benefits is complex because such benefits may be defeasible by the death of the employee spouse before retirement and the amount of benefits ultimately received depends upon a number of factors that remain uncertain until actual retirement. Therefore, a trial court, in valuing the parties' assets upon dissolution, has considerable discretion in selecting and applying an appropriate valuation method.”
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DIGESTS:
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· ALR Digest: Divorce & Separation § 110 · US Led Digest: Divorce & Separation § 9 Property rights |
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ENCYCLOPEDIAS: |
· 24 Am. Jur. 2d Divorce and Separation (1998). §§ 574-586 Valuation §§ 574-579. In general §§ 580-586. Specific types of property § 580. Generally; professional education and license § 581. Professional practice § 582. —Goodwill § 583. —Accounts receivable and accounts payable § 584. Stock or interest in close corporation § 585. Pension rights
· 27C C.J.S. Divorce (1986). §§ 549-571. Specific Kinds of Property or Interests” §556. Pensions §557. — Military Retirement Pay or Pensions § 558. — Valuation and allocation §560. Education, Degrees, or Professional Licenses; Future Earning Power § 561. Professional practices § 562. — Valuation § 563. Gifts; bequests, devises, or inheritances § 565. Interests in, and assets of, corporations, partnerships, or business § 566. — Valuation § 567. Real property § 568. Securities § 569. — Valuation § 570. Tort claims and settlements § 571. Miscellaneous property or interests |
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WEST KEY NUMBERS: |
· Divorce# 248. Disposition of property # 253. ___ Proceedings for division or assignment # 253(3). ___ Valuation of assets
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TEXTS & TREATISES: |
· 7 Arnold H. Rutkin and Kathleen A. Hogan, Connecticut Practice, Family Law and Practice with Forms (1999).Chapter 27. Valuation of assets § 27.15. Valuation of particular assets § 27.16. Real estate § 27.17. Advanced education or professional license § 27.18. Professional practices and other closely held businesses § 27.19. Marketable securities § 27.20. Pension, retirement and profit sharing plans
· 2 Family Law Practice in Connecticut (1996).Chapter 12. QDROs and other Considerations for Retirement Plan Assets (by Elizabeth Lorion McMahon).Chapter 13. Valuation of assets (by Lorraine D. Eckert) III. Valuation of specific assets A. Inheritance and powers of appointment, bank accounts, royalties, gifts B. Homemaker contributions C. Retirement benefits D. Professional licenses and degrees E. Real estate valuation F. Workers’ compensation and personal injury awards G. Stock options H. Collectibles I. Lottery winnings J. Business valuation · John DeWitt Gregory et al. Property Division in Divorce Proceedings: A Fifty State Guide (2003).Chapter 5. Pension and retirement benefits Chapter 6. Professional practices and closely held business interests Chapter 7. Degrees, licenses, and career enhancement Chapter 8. Personal injury and workers’ compensation awards and life insurance Chapter 9. Gifts and inheritances Chapter 10. Allocation of debts on divorce
· Brett R. Turner, Equitable Distribution of Property (3rd ed. 2005).Chapter 6. Specific propertyChapter 7. Valuation of assets§ 7.06. Valuation of businesses: general rules§ 7.07. Valuation of businesses: Total value method § 7.08. Valuation of businesses: Going concern method § 7.09. Valuation of businesses: Choosing a method
· 3 Arnold H. Rutkin, Gen. Ed., Family Law and Practice (2008).Chapter 36. Valuation of Marital Property§ 36.10. The closely held corporation—background § 36.12. A special look at the professional practice § 36.13. Valuation of retirement benefits § 36.14. Degrees and licenses § 36.15. Valuation of non-economic contributions § 36.16. Valuation checklist
· Barth H. Goldberg, Valuation of Divorce Assets (1984). Chapter 6. Valuation of closely held corporations Chapter 8. Valuation of professional entities, goodwill, and license interests §8.6. Property Rights in Licenses and Degrees – State by State Analysis Chapter 9. Valuing retirement plans Chapter 14. Valuation of collectibles Chapter 15. A compendium of valuation cases covering specific assets
· Ronald L. Brown, ed. Valuing Professional Practices and Licenses, A guide for the Matrimonial Practitioner (3rd ed. 2004). Part A: The professional client Part B: Basic concepts in valuing professional practices Part C: Valuing law practices Part D: Valuing medical practices Part D-1: Valuing accounting practices Part E: Valuing professional degrees and licenses Part F: Merger and double counting Part G: Handling celebrity cases Part H: Miscellaneous topics
· 2 Richard E. Crouch, Family Law Checklists (2001). Chapter 8. Property division Checklist 8-4. ValuationChapter 9. Pensions
· Marshal S. Willick, Military Retirement Benefits in Divorce: A Lawyer’s Guide to Valuation and Distribution (1998).
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LAW REVIEWS: |
· Difficult Valuation Issues Symposium, 35 Family Law Quarterly No. 2 (Summer 2001). · Mark E. Sullivan, Military Pension Division: Crossing The Minefield, 1999 Wiley Family Law Update (1999). |
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COMPILER: |
Lawrence Cheeseman, Supervising Law Librarian, Connecticut Judicial Branch Law Library, One Court Street, Middletown, CT 06457. (860) 343-6560. Email.
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Table 2 Valuing and Distributing Pensions and Retirement Benefits
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Valuing and Distributing Pension and Retirement Benefits
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"There are three widely approved methods of valuing and distributing pension benefits." Krafick v. Krafick, 234 Conn. 783, 800, 663 A.2d 365 (1995).
[cont’d on next page]
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1. Present value (or offset) method |
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“The first method involves placing a present value on the retirement plan, as of the date of dissolution, by using actuarial tables to determine the life expectancy of the employee-spouse, by considering all the circumstances of the case, and by evaluating the probability that the employee-spouse will eventually exercise his or her rights under the retirement plan.” In re Marriage of Grubb, 745 P.2d 661 )Colo. 1987). “Calculating a pension's present value depends on several factors, including the employee spouse's life expectancy, the proper interest rate for discount and the date of retirement.” Krafick v. Krafick, 234 Conn. 783, 800, 663 A.2d 365 (1995). “Once the court has determined the present value of the benefits at issue, it may, in light of relevant equitable considerations, award those benefits to the employee spouse and/or may offset the nonemployee's equitable share in the pension benefits with an award of other assets.” Ibid., p. 801 Advantage: The offset method has the advantage of effecting a ‘clean break’ between the parties.” Ibid., p. 802. Disadvantage: “The drawback to the offset method is that it places the entire risk of forfeiture before maturity on the employee spouse. Further, this method is not feasible when there are insufficient other assets by which to offset the value of the pension . . . .” Ibid.
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2. Present Division Method |
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“. . . involve[s] delaying distribution until the pension matures.” Ibid., p. 803. “Under the ‘present division’ method, the trial court determines at the time of trial, the percentage share of the pension benefits to which the nonemployee spouse is entitled. The court may then, through a QDRO for pensions covered by ERISA or some equivalent if the non-ERISA plan permits, presently divide or assign the pension benefits between the spouses.” Ibid.
Advantage and disadvantage: “the advantage of imposing on the parties equally the risk of forfeiture, but have the cost of prolonging the parties' entanglement with each other.” Ibid., pp. 803-804.
“ . . . favored when there are insufficient assets to offset the award of the pension to the employee spouse alone or when the evidence is inadequate to establish present value.”
[Cont’d]
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Valuing and Distributing Pension and Retirement Benefits [cont’d]
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3. Reserved Jurisdiction Method |
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“. . . involve[s] delaying distribution until the pension matures.” Ibid., p. 803. “Alternatively, under the ‘reserved jurisdiction’ method, the trial court reserves jurisdiction to distribute the pension until benefits have matured. Once matured, the trial court will determine the proper share to which each party is entitled and divide the benefits accordingly.” Ibid., p. 803
Advantage and disadvantage: “the advantage of imposing on the parties equally the risk of forfeiture, but have the cost of prolonging the parties' entanglement with each other.” Ibid., pp. 803-804.
“ . . . favored when there are insufficient assets to offset the award of the pension to the employee spouse alone or when the evidence is inadequate to establish present value.”
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“These methods are not exclusive. A trial court retains discretion to select any other method to take account of the value of a pension asset ‘that might better address the needs and interests of the parties.’ In re Marriage of Grubb, supra, 745 P.2d 666. The touchstone of valuation, as well as the ultimate distribution of pension benefits, is the court's 'power to act equitably.' Pasquariello v. Pasquariello, 168 Conn. 579, 585, 362 A.2d 835 (1975).” Ibid., 804
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Table 3 QDROs: Sample & Model Forms
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QDROs Sample and Model Forms
[Cont’d on next page]
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§ 50.58. Sample Qualified Domestic Relations Order (QDRO)
· 3 Valuation and Distribution of Marital Property (2008). Appendix 47A. Sample Qualified Domestic Relations Orders (QDRO), Related Forms and Selected Internal Revenue Code Provisions § 47A.01. Sample QDRO providing for division of pension benefits § 47A.02. Sample QDRO provision providing for waiver of pension benefits § 47A.03. Separation agreement provision providing for waiver of pension benefits § 47A.04. Separation agreement provision providing for award of pension benefits to alternate payee
§ 17:183. Retirement Benefits—Distribution Of Pension With Qualified Domestic Relations Order
· 4 Arnold H. Rutkin, Gen. Ed., Family Law And Practice (1999). § 46.08. Forms [1]. MODEL FORMS: Order for assignment of interest in retirement plan [2]. MODEL FORM: Qualified Domestic Relations Order [3]. FORM: Determination as to qualification of domestic relations Order, Notice of Participant and alternate payee, agreement to comply with order and other relief [4]. FORM: Letter to plan administer
Chapter 14. Qualified Domestic Relations Orders § 14.4. Letter To Plan Administrator Requesting Sample Qualified Domestic Relations Order, Summary Plan Description And Plan Requirements Information § 14.5. Letter From Plan Participant Authorizing Release Of Information § 14.6. Letter To Plan Administrator Enclosing Copy Of Proposed Qualified Relations Order For Pre-Approval § 14.7. Letter From Plan Administrator With Sample Language For Qualified Domestic Relations Order § 14.8. ________. Another Form § 14.9. Segregation And Deferral Of Alternate Payee's Percentage Interest In Defined Benefit Pension Plan—Order § 14.10. Segregation And Deferral Of Alternate Payee's Specific Dollar Amount Interest In Defined Benefit Profit-Sharing Plan—Order § 14.11. Immediate Transfer Of Specific Dollar Amount From Defined Benefit Pension Plan To Ira Where Alternate Payee Is Eligible For Transfer—Order §14.12. Letter Forwarding Fully Executed And Filed Qualified Domestic Relations Order To Plan Administrator
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Table 4 ALR Annotations on Property Valuation
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Accounting practice |
Michael J. McMahon, Annotation, Valuation Of Goodwill In Accounting Practice For Purposes Of Divorce Court 's Property Distribution, 77 ALR 4th 609 (1990).
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Dental practice |
Michael J. McMahon, Annotation, Valuation Of Goodwill In Medical Or Dental Practice For Purposes Of Divorce Court’s Property Division, 78 ALR4th 853 (1990).
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Law firm |
Dag E. Ytreberg, Annotation, Evaluation Of Interest In Law Firm Or Medical Partnership For Purposes Of Division Of Property In Divorce Proceedings,” 74 ALR 3d 621 (1976).
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Law practice |
Michael J. McMahon, Annotation, Valuation Of Good Will In Law Practice For Purpose Of Divorce Court’s Property Settlement,” 77 ALR 4th 683 (1990). |
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Medical partnership |
Dag E. Ytreberg, Annotation, Evaluation Of Interest In Law Firm Or Medical Partnership For Purposes Of Division Of Property In Divorce Proceedings,” 74 ALR 3d 621 (1976).
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Medical practice |
Michael J. McMahon, Annotation, Valuation Of Goodwill In Medical Or Dental Practice For Purposes Of Divorce Court’s Property Division, 78 ALR4th 853 (1990).
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SCOPE: |
Bibliographic materials resources relating to methods and formulas for division of assets relating to marriage or civil union in Connecticut, effective October 1, 2005.
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CURRENCY: |
· 2008 Edition
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DEFINITIONS: |
· Coverture: “is defined as ‘[t]he status and rights of the wife arising from the marriage relationship’; Ballentine's Law Dictionary (3d Ed. 1989); and has a long history of use regarding marital assets.” Wendt v. Wendt, 59 Conn. App. 656, 666, 757 A.2d 1225 (2000).
· Coverture fraction: “established by the court for the unvested stock options consisted of a fraction, ‘the denominator of which shall be the number of months from the date of grant to the date of vesting [when the options no longer will be] subject to divestment, and the numerator [of which shall] be the number of months from the date of grant to December 1, 1995 [the date of the parties' separation].’ Specifically, the plaintiff challenges the coverture numerator, contending that the court should have used the date that the defendant's employment commenced instead of the date that the unvested assets were granted and the date of dissolution instead of the date of separation. We disagree.” Ibid., 665-666.
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STATUTES: |
· Conn. Gen. Stat. § 46b-81 (2008). (c). “In fixing the nature and value of the property, if any, to be assigned, the court, after hearing the witnesses, if any, of each party, except as provided in subsection (a) of section 46b-51, shall consider the length of the marriage, the causes for the annulment, dissolution of the marriage or legal separation, the age, health, station, occupation, amount and sources of income, vocational skills, employability, estate, liabilities and needs of each of the parties and the opportunity of each for future acquisition of capital assets and income. The court shall also consider the contribution of each of the parties in the acquisition, preservation or appreciation in value of their respective estates.”
· CONN. GEN. STATS. § 46b-38oo (Effective October 1, 2005). “. . . a civil union shall be included in such use or definition.” (eff. October 1, 2005).
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CHECKLISTS: |
· 3 Arnold H. Rutkin, Gen. Ed., Family Law and Practice (2008).Chapter 38. A practical guide to equitable distribution § 38.04[2]. The Check: an asset-by-asset guide
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CASES: |
· Wendt v. Wendt, 59 Conn. App. 656, 666, 757 A.2d 1225 (2000). “In modern times, a coverture factor has reemerged as a mechanism for apportioning between spouses the benefit or value of unvested stock options, retirement plans or other benefits that were earned partially during and partially after the marriage.”
· Damon v. Damon, 23 Conn. App. 111, 114, 579 A.2d 124 (1990). “The plaintiff complains that the judgment, providing that the contents of the home "shall become the sole property of the defendant unless within one month of the date of the Judgment the parties agree on a division of said contents between themselves," is an improper delegation of the court's power to make the distribution. The essential meaning of these words is that the defendant would be the owner of the personalty unless she chose to give the plaintiff some of it. The court did not, therefore, delegate its authority to distribute assets.”
· Vincent v. Vincent, 178 Conn. 212 at 212, 423 A.2d 879 (1979). “In this action, both parties alleged that the marriage was broken down irretrievably. The court dissolved the marriage and ordered that the real estate in the name of the plaintiff husband be transferred to the defendant wife and then be sold by the defendant without delay. Upon completion of the sale, deducting all necessary expenses, the net proceeds were to be divided equally between the parties. The plaintiff husband has appealed from this judgment.”.
· Ehrenkranz v. Ehrenkranz, 2 Conn. App. 416, 421-422, 479 A.2d 826 (1984). “The defendant's claim that he is left with a minus net worth must be weighed in view of the facts that the payment of the five annual installments of lump sum alimony was not to start until January 1, 1983, and that he was left with substantial income producing assets.”
· Murphy v. Murphy, 180 Conn. 376, 378, 429 A.2d 897 (1980). “Rather than determine what each party had contributed to every category of property in dispute, that is, real property, personal property, bank accounts, and other assets, the court considered their property as a whole.”
· Croke v. Croke, 4 Conn. App. 663, 663-664, 496 A.2d 235 (1985). “The judgment of December 11, 1980, provides that the plaintiff has the right to occupy jointly owned real property located at 276 Park Street in New Canaan, with the parties' minor child until the minor child attains age eighteen, or residential custody of the minor child is transferred to the defendant, or the death or remarriage of the plaintiff or her cohabitation with another person under circumstances which would warrant the modification of periodic alimony pursuant to the provisions of General Statutes 46b-86, or the plaintiff elects to vacate the premises.”
· Ivey v. Ivey, 183 Conn. 490, 493, 439 A.2d 425 (1981). “The decree rendered in the present case was of the second type, i.e., it ordered the plaintiff to transfer her interest in the Florida property to the defendant. The order did not purport to transfer title to out-of-state realty by its own terms. The plaintiff's argument that the court below was bound to apply Florida law, when it made its order relating to the Florida land, lacks merit. Inasmuch as the decree did not directly affect title to the Florida lands, this dissolution action did not differ materially from any other dissolution.” |
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WEST KEY NUMBER:
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· Divorce # 248. Disposition of property · Divorce # 252.2. ___ Proportion or share given on division · Divorce # 252.3. ___ Particular property or interest and mode of distribution · Divorce # 252.4. ___ Debts and liabilities, allocation of; creditors’ rights · Divorce # 252.5. ___ Homestead or residence; disposition of · Divorce # 253. ___ Proceedings for division or assignment
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ENCYCLOPEDIAS: |
· 24 Am. Jur. 2d Divorce and Separation (1998). §§ 565-586. Manner of division §§ 565-573. In general § 565. Generally, “equitable” and “equal” distinquished § 566. —Equal division as starting point; presumption of equal division § 567. Award of money or distribution in kind § 568. Partition § 569. Use of mathematical formulas § 570. Joint ownership after dissolution § 571. Division of debt § 573. Division of nonmarital property; invasion of separate property
· 27B C.J.S. Divorce (1986). §§ 527-548. Mode of allocation; proportion or shares given on division §§ 549-571. Specific kinds of property or interests
· Amy P. Bunk, Annotation, Division of Lottery Proceeds in Divorce Proceedings, 124 ALR5th 537 (2004).
· Sonja A. Soehnel, Annotation, Divorce: Propriety Of Property Distribution Leaving Both Parties With Substantial Ownership Interest In Same Business, 56 ALR4th 862 (1987).
· Ferdinand S. Tinio, Annotation, Divorce Or Separation: Consideration Of Tax Liability Or Consequences In Determining Alimony Or Property Settlement Provisions, 51 ALR3d 461 (1973).
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TEXTS & TREATISES: |
· 7 Arnold H. Rutkin and Kathleen A. Hogan, Connecticut Practice, Family Law and Practice with Forms (1999).Chapter 29. Distribution of Assets§ 29.1. Methods of distribution § 29.2. Sale or buy-out § 29.3. Distribution in kind § 29.4. Offsetting assets and credits § 29.5. Deferred sale or distribution § 29.6. Time rule for distribution § 29.7. Distribution of particular types of assets § 29.8. Marital home § 29.9. Allocation of expenses and/or appreciation § 29.10. Allocation of equity § 29.11. Outright transfer and allocation of liabilities § 29.12. Present or future buy-out § 29.13. Family business § 29.14. Pension, retirement and deferred compensation interests § 29.15. Insurance interests § 29.16. Effect of transfers prior to trial § 29.17. Distribution to children or other third party § 29.18. Effect of distribution on rights of creditors § 29.19. Finality of distribution; effect of after discovered property
· John DeWitt Gregory et al. Property Division in Divorce Proceedings: A Fifty State Guide (2003).Chapter 11. Fair and equitable distribution Chapter 12. Dissipation of assets and marital misconduct or fault Chapter 13. Marital agreements
· Brett R. Turner, Equitable Distribution of Property (2nd ed. 1994).Chapter 9. Mechanics of Division
· 3 Arnold H. Rutkin, Gen. Ed., Family Law and Practice (2008).Chapter 37. Principles of property distribution§ 37.06. Division of property by the court[1]. Determining an “equitable” distribution [2]. Ordering distribution § 37.07. The marital home § 37.08. Business interests § 37.09. Professional goodwill § 37.10. Increased earning capacity resulting from a professional license, graduate degree, or education § 37.11. Retirement benefits § 37.12. Federal government benefits § 37.13. Personal injury, worker’s compensation, and other awards and claims § 37.14. Debts
· Marshal S. Willick, Military Retirement Benefits in Divorce: A Lawyer’s Guide to Valuation and Distribution (1998).
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LAW REVIEWS: |
· Difficult Valuation Issues Symposium, 35 Family Law Quarterly No. 2 (Summer 2001). · Mark E. Sullivan, Military Pension Division: Crossing The Minefield, 1999 Wiley Family Law Update (1999).
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COMPILER: |
Lawrence Cheeseman, Supervising Law Librarian, Connecticut Judicial Branch Law Library, One Court Street, Middletown, CT 06457. (860) 343-6560. Email.
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SCOPE: |
Bibliographic resources relating to non-financial factors to be considered in the equitable distribution of property.
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CURRENCY: |
· 2008 Edition
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STATUTES: |
· Conn. Gen. Stat. § 46b-81 (2008). (c). “In fixing the nature and value of the property, if any, to be assigned, the court, after hearing the witnesses, if any, of each party, except as provided in subsection (a) of section 46b-51, shall consider the length of the marriage, the causes for the annulment, dissolution of the marriage or legal separation, the age, health, station, occupation, amount and sources of income, vocational skills, employability, estate, liabilities and needs of each of the parties and the opportunity of each for future acquisition of capital assets and income. The court shall also consider the contribution of each of the parties in the acquisition, preservation or appreciation in value of their respective estates.”
• CONN. GEN. STATS. § 46b-38oo (Effective October 1, 2005). “. . . a civil union shall be included in such use or definition.” (eff. October 1, 2005). “. . . a civil union shall be included in such use or definition.”
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CASES: |
· Greco v. Greco, 70 Conn. App. 735, 740, 799 A.2d 331 (2002). “Despite the defendant's contentions to the contrary and his own review of the criteria set forth in § 46b-81, we cannot construe the court's award as an abuse of discretion in light of the court's finding that the defendant's infidelity was the cause of the breakdown of the marriage. That is a factor that the court was required to consider pursuant to § 46b-81.”
· Solomon v. Solomon, 67 Conn. App. 91, 92-93, 787 A.2d 4 (2001). “The transcript reveals that the court took into consideration, among other things, the occupations of the parties, their ages, their contributions to the marriage, the cause of the breakdown of the marriage and their opportunities for future earnings, and therefore properly considered factors set forth in General Statutes §§ 46b-81 (c) (setting forth factors for distribution of assets) and 46b-82 (setting forth factors for determining alimony). It is clear that the court properly applied the law and reasonably rendered its orders on the basis of all of the facts.”
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WEST KEY NUMBERS: |
· Divorce# 248. Disposition of property # 253. —Proceedings for division or assignment
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ENCYCLOPEDIAS: |
· 24 Am. Jur. 2d Divorce and Separation (1998). §§ 548-564. Factors considered in division §§ 548-560. In general §§ 561-564. Marital misconduct
· Lee R. Russ, Annotation, Divorce: Equitable Distribution Doctrine, 41 ALR4th 481 (1985). §§ 11-13. Nonfinancial Factors Considered
· Kristine Cordier Karnezis, Annotation, Fault As Consideration In Alimony, Spousal Support, Or Property Division Awards Pursuant To No-Fault Divorce, 86 ALR3d (1978).
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TEXTS & TREATISES: |
· 7Arnold H. Rutkin and Kathleen A. Hogan, Connecticut Practice, Family Law and Practice with Forms (1999).Chapter 28. Factors to be considered for Division of Property§ 28.1. In general § 28.2. Length of the marriage § 28.3. Causes for the dissolution § 28.4. Age of the parties § 28.5. Health of the parties § 28.6. Station of the parties § 28.7. Occupation § 28.8. Amount and source of income § 28.9. Vocational skills and employability of the parties § 28.10. Estates of the parties § 28.11. Liabilities and needs of the parties § 28.12. Opportunity for future acquisitions of assets and income § 28.13. The contributions of each party to the acquisition, preservation or appreciation of assets § 28.14. Other factors considered
· 2 Family Law Practice in Connecticut (1996). Chapter 12. QDROs and other considerations for retirement plan assets upon divorce Chapter 13. Valuation of assets Chapter 14. Enforcement of judgments · 2 Richard E. Crouch, Family Law Checklists (2001). Chapter 8. Property division Checklist 8-5. Property division factors and criteria
· 2 John Tingley and Nicholas B. Svalina, Marital Property Law (rev. 2d ed. 1995).Chapter 40.03, Nonfinancial factors considered
· 3 Arnold H. Rutkin, Gen. Ed., Family Law and Practice (2008). Chapter 37. Principles of property distribution § 37.06. Division of property by the Court [1]. Determining an “equitable” distribution [2]. Contributions of the parties Chapter 38. A practical guide to equitable distribution
· Brett R. Turner, Equitable Distribution of Property (2nd ed. 1994 with 2004 supp.). Chapter 8. Division of Assets
· Gary A. Shulman and David I. Kelley, Dividing Pensions in Divorce (2d ed. 1999). [Available at the Norwich Law Library]
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COMPILER: |
Lawrence Cheeseman, Supervising Law Librarian, Connecticut Judicial Branch Law Library, One Court Street, Middletown, CT 06457. (860) 343-6560. Email.
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Table 5 Factors for consideration in equitable distribution of property
Factors |
Rutkin* |
LPH** |
|
Length of marriage |
§ 26.2 |
|
|
Causes for dissolution |
§ 26.3 |
|
|
Age |
§ 26.4 |
|
|
Health |
§ 26.5 |
|
|
Station |
§ 26.6 |
|
|
Occupation |
§ 26.7 |
|
|
Amount and sources of income
|
§ 26.8 |
|
|
Vocational skills and employability of parties
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§ 26.9 |
|
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Estates of the parties
|
§ 26.10 |
|
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Liabilities and Needs of the Parties
|
§ 26.11 |
|
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Opportunity for Future Acquisition of Assets and Income
|
§ 26.12 |
|
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Contributions of Each Party |
§ 26.13 |
§13.20 |
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Other Factors
|
§ 26.14 |
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* 7 Arnold H. Rutkin and Kathleen A. Hogan, Connecticut Practice, Family Law and Practice with Forms (1999).
** Valuation of Assets by Lorraine D. Eckert, 2 Family Law Practice in Connecticut (1996).
Table 6 Treatment of various types of property in each stage of determination
“There are three stages of analysis regarding the equitable distribution of each resource: first, whether the resource is property within § 46b-81 to be equitably distributed (classification); second, what is appropriate method for determining the value of the property (valuation); and third, what is the most equitable distribution of the property between the parties (distribution). Krafick v. Krafick, 234 Conn. 783, 792-793 (1995).
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Classification |
Valuation |
Distribution |
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Businesses and corporations (including closely held corporations)
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Rutkin et al. § 26.8 (financial interests) and § 26.10 (receivables) 24 Am Jur 2d Divorce and Separation § 519 27C C.J.S Divorce §§ 565
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Goldberg, Chap. 6 Rutkin et al. § 27.18 Turner §§ 7.06-7.09 27C C.J.S Divorce §§ 566 |
Rutkin et al. § 29.13 (family business) |
Collectibles such as baseball cards, books, furniture, paintings, etc.
|
|
Goldberg Ch.14
|
|
Debts and liabilities |
Turner § 6.29; Rutkin et al. § 26.20 |
Goldberg § 15.311 Turner § 6.29
|
Turner § 6.29 |
Gifts (including engagement rings, wedding presents and interspousal gifts) |
Turner § 5.15-5.19 Rutkin § 37.10 Rutkin et al. § 26.15 2 Williams, Chap. 30 24 Am Jur 2d Divorce and Separation §§ 504-506 27C C.J.S Divorce § 563
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Goldberg §§ 12.2 and 15.106 |
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|
Government and military benefits (including Social Security and military pensions)
|
Turner § 6.03-6.06 27C C.J.S Divorce § 557 24 Am Jur 2d Divorce and Separation §§ 537-542
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|
|
|
Classification |
Valuation |
Distribution |
|
Inheritances |
Turner §§ 5.20 and 6.27 Rutkin et al. § 26.16 27C C.J.S Divorce § 563 24 Am Jur 2d § 503 |
|
|
Insurance |
Rutkin et al. § 26.9 3 Williams, Chap. 47 24 Am Jur 2d Divorce and Separation §§ 544-545 27C C.J.S Divorce §§ 564
|
Goldberg § 12.3-12.5 Turner § 6.26 Williams Ch.47
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Rutkin et al. § 29.15 Turner § 6.26 |
Intangibles including intellectual property
|
|
|
|
Marital Home |
Turner § 6.25 Rutkin § 37.07[1] Rutkin et al. § 26.5 24 Am Jur 2d Divorce and Separation §§ 523-524 27C C.J.S Divorce § 549
|
Turner § 6.25 Rutkin § 37.07[2] 27C C.J.S §550 |
Rutkin § 37.07[3] Rutkin et al. § 29.8 Turner § 6.25 27C C.J.S §551 |
Pensions and retirement plans |
Turner §§ 6.09 and 6.10 Rutkin et al. § 26.11 2 Williams, Chap.45 24 Am Jur 2d Divorce and Separation §§ 532-536 27C C.J.S Divorce §§ 553-559 |
Goldberg Ch.9 Rutkin et al. § 27.20 24 Am Jur 2d Divorce and Separation §§ 585-586 27C C.J.S Divorce §§ 558
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Rutkin §§ 37.11, 38.05[1][f] Rutkin et al. § 29.14 Turner § 6.11 27C C.J.S Divorce §§ 558 |
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Personal injury, worker’s compensation and other awards (Tort)
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Rutkin § 37.13; Rutkin et al. § 26.21 Turner §§ 6.17-6.19 3 Williams, Chap. 48 24 Am Jur 2d Divorce and Separation §§ 546-547 27C C.J.S Divorce §§ 570
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Goldberg, § 12.10 |
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Personal property
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Goldberg, Chap. 15 |
|
|
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Classification |
Valuation |
Distribution |
Prizes and awards
|
|
|
|
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Professional Degrees and licenses |
Turner, §§ 6.20-6.21 Rutkin et al. § 26.13 2 Williams, Chap. 44 24 Am Jur 2d Divorce and Separation §§ 527-529 27C C.J.S § 560 24 Am Jur 2d § 527-531
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Brown Rutkin et al. § 27.17
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Rutkin §§ 37.10 and 38.05[1][e] |
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Professional Practices including goodwill |
Turner § 6.22 Rutkin §37.08[1], §37.09 Rutkin et al. § 26.14 24 Am Jur 2d Divorce and Separation §§ 530-531 27C C.J.S §561, 565
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Brown Goldberg Chap. 8 Turner 7.06-7.09 Rutkin § 37.08[2] Rutkin et al. § 27.18 24 Am Jur 2d Divorce and Separation §§ 580-583
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Rutkin, §§ 37.08[3] and 38.05[1][d] & [e]
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Real estate |
Rutkin et al. § 26.4 27C C.J.S Divorce §§ 567 |
Goldberg §12.7; Rutkin et al. § 27.16
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Stocks and Securities
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Turner § 6.15 3 Williams, Chap.50-51 Rutkin et al. § 26.8 24 Am Jur 2d Divorce and Separation §§ 520-521 27C C.J.S Divorce §§ 568
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Goldberg, Chap. 7 Williams Ch.51 Rutkin et al. § 27.19 24 Am Jur 2d Divorce and Separation § 584 |
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Trusts
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Turner, § 6.28 |
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Turner, § 6.28 |
24 Am Jur = 24 Am Jur 2d Divorce and Separation (1998).
Brown = Ronald L. Brown, Valuing Professional Practices and Licenses: A Guide for the Matrimonial Practitioner (2d ed. 1997).
27C CJS = 27C C.J.S. Divorce (1986).
Goldberg = Barth H. Goldberg, Valuation of Divorce Assets (1984).
Rutkin = 3 Arnold H. Rutkin, Gen. Ed., Family Law and Practice (2002).
Rutkin et al.= 7 Arnold H. Rutkin and Kathleen A. Hogan, Connecticut Practice Series, Family Law and Practice With Forms (1999).
Turner = Brett R. Turner, Equitable Distribution of Property (2d ed. 1994).
Williams = Elizabeth Williams, Marital Property Law (rev. 2d ed. 2002).
Connecticut Judicial Branch Law Libraries