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September 29, 2004

Establishing Value at Trial

In re Marriage of Hoakison illustrates the importance of establishing property values for equitable distribution purposes at trial. The trial court noted, "The Court is unable to make a determination as to the value of hte home and determination of the value of the camper." Nonetheless, the trial court entered what it believe to be an equitable distribution of all property.

On appeal, the Court of Appeals noted:

Since the trial court did not make a finding as to values, the net property distribution is unclear from the court’s ruling. This court said in Bonnette, 584 N.W.2d at 714:

The reason we underscore the importance of assigning values and setting forth the net property distribution is two-fold: (1) to enable the reviewing court to assess whether an equitable division of property was affected; and (2) to aid the parties in better understanding their respective property awards, which would, in some cases, dispense with the need for an appeal.

Posted on September 29, 2004 in Property Distribution | Permalink



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