1. MARITAL PROPERTY/ALIMONY (cont’d) February 24, 2004

2. One approach to completing Step 3: Ask: 1)What portion of marital property would each spouse get if court did nothing? Here: Henry: approx. $1,052,500* 80% Wanda: $ 269,500** 20% 2) Is that result equitable based on factors? *prop in H’s name + ½ JT prop **prop in W’s name + ½ JT prop

3. Factors Favoring a Monetary Award to Wanda Include:

4. a)Contribution monetary & non-monetary (children fin. support during early yrs) b)Value of all prop. int. of each party (she doesn’t have much) c) Sources of income/econ. circum. (she doesn’t have much potential at this time) d) Duration (married 20+ years) e) H’s adultery?

5. Factors Suggesting Lower Monetary Award to Wanda Include:

6. a)H’s contributions – substantial monetary contrib. to family b)Age (might cut both ways) c)Wife’s alimony (may be big factor) d)How prop. acquired – efforts of H to acquire largest assets

7. If factors justify 50/50 split – Wanda $269,500 + $391,500 = $661,000 Henry $1,052,500 - $391,500 = $661,000 Monetary award from H to W = $391,500 (or $351,500 + 50% of 401K/pension ($40,000))

8. Amount and Method of Payment of Monetary Award Court has discretion as to lump sum vs. installments Pension: if, as and when preferred to lump sum payment

9. Use and Possession of Marital Home and Family Use Property? Available when: 1.Used as principle residence when parties lived together 2. Owned or leased by one or both parties at time of div. 3. Will be used as principle residence by custodial parent and minor child(ren) Standard: Best interest of the child vs. hardship to non- custodial parent Contribution: Court may order non-custodial parent share of post sep mort payments (need to address in order)

10. Alimony – Historical Overview Pre 1970’s Available only to W Fault – disqualifies Only indef. or perm. No monetary award Modern H or W Fault = factor (MAYBE) Rehabilitative/Temp. Mon. award can be combined w/alimony