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attorneyappealtrial

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In re Marriage of Driscoll, 563 N.W.2d 640

Facts

Brenda and Gerald Driscoll were married on September 29, 1984, and separated in September 1994. They had no children together but each had children from previous marriages. Brenda owned a cafe in Dubuque, while Gerald worked for John Deere. The district court filed a judgment and decree dissolving their marriage on January 3, 1996, which included property division and attorney fees. Gerald appealed the court's decisions regarding the valuation of his pension and the distribution of assets.

Background facts. Brenda and Gerald Driscoll were married on September 29, 1984, and they separated in September 1994. Each had children from previous marriages, but no children were born of this marriage. Brenda was born October 31, 1947, and since 1990 she has owned and operated a cafe in Dubuque. Gerald was born March 12, 1941, and has worked for John Deere since 1964. On January 3, 1996, the district court filed a judgment and decree dissolving the parties' marriage.

Issue

Did the district court err in its valuation of the pension and the distribution of marital assets?

Rule

To make an equitable distribution of assets, the court must first determine what assets are available to be allocated between the spouses. To do this, the court must identify and value the assets of the parties held both jointly and separately. The value of the assets then should be determined as of the date of trial. Locke v. Locke, 246 N.W.2d 246, 252 (Iowa 1976); In re Marriage of McLaughlin, 526 N.W.2d 342, 344 (Iowa App.1994); In re Marriage of Klein, 522 N.W.2d 625, 628 (Iowa App.1994).

Analysis

The court determined that the valuation of Gerald's pension and 401(k) plans as of the trial date was appropriate, as the increase in value was due to market conditions rather than contributions from either party. The court also found no evidence to support Gerald's claims regarding Brenda skimming profits from her cafe, affirming the trial court's valuation of the business. Additionally, the court ruled that child support received by Brenda from her prior marriage was not marital property and thus not subject to division.

In this case, we find no reason to depart from using the date of trial as the date of valuing the 401(k) plan. A marital asset increased following separation but was correctly divided according to its value at the time of trial.

Conclusion

The Court of Appeals affirmed the district court's decisions regarding the property division and attorney fees, concluding that the financial provisions of the dissolution decree were not erroneous.

AFFIRMED.

Who won?

Brenda Driscoll prevailed in the appeal as the court upheld the district court's decisions regarding the equitable distribution of assets and the awarding of attorney fees. The appellate court found that the trial court had properly valued the marital assets and made equitable decisions based on the evidence presented, including the lack of substantiation for Gerald's claims against Brenda's business.

Brenda Driscoll prevailed in the appeal as the court upheld the district court's decisions regarding the equitable distribution of assets and the awarding of attorney fees.

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