In the previous appeal, court held that the trial court’s division of two assets required remand.
The first asset was defendant’s interest in SE stock. The trial court’s finding that this property was defendant’s separate property was affirmed. They also affirmed the court’s valuation of defendant’s stock interest at $3 million as within the range established by the parties’ joint expert and defendant’s expert. They vacated the trial court’s award of one-third share or $1 million of the stock interest to plaintiff, remanded for the trial court to articulate its reason for the amount awarded.
Defendant requested an evidentiary hearing concerning the trial court’s distribution of SE to plaintiff. At the hearing, the court clarified that its prior judgment was based on a finding that the assets of SE were commingled, and that plaintiff contributed to the enterprise.
On remand, the trial court considered these factors: the source of the property; the parties’ contributions toward its acquisition, as well as to the general marital estate; the duration of the marriage; the needs and circumstances of the parties; their ages, health, life status, and earning abilities; the cause of the divorce, as well as past relations and conduct between the parties; and general principles of equity.
Plaintiff Contributed to the Value
Defendant’s efforts during the marriage contributed to the increase in valuation of SE and other entities. The court noted that the plaintiff, who worked part-time for her family-owned business, was also employed during the marriage in various roles with SE and contributed to its valuation through her direct efforts. Additionally, the court found that plaintiff contributed to the value of SE indirectly because she had almost exclusive responsibility for maintaining the parties’ home and child rearing. The court noted defendant’s testimony that he worked seven days a week, many days working 12 hours, and his concession that plaintiff was both employed and fully responsible for the children while he worked long hours. Based on these findings, the trial court held that plaintiff was entitled to one-third the value of the SE asset, namely $1 million.
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