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Cases of Interest: Income
© National Legal Research Group, Inc.
COLORADO: In re Marriage of Foottit, 903 P.2d 1209 (Colo. Ct. App. 1995).
Income received during marriage from separate property is marital property, because it does not fall within the statutory exceptions to marital property.
Read More About This CaseFLORIDA: Steiner v. Steiner, 746 So. 2d 1149 (Fla. Dist. Ct. App. 1999).
Rental income generated from the husband's nonmarital real estate was marital property, a bank account in the name of the husband and his mother was marital property, and the principal mortgage reductions paid out of the marital account became marital property.
Read More About This CaseIDAHO: Vanwassenhove v. Vanwassenhove, 134 Idaho 198, 998 P.2d 505 (Ct. App. 2000).
The marital estate was entitled to reimbursement for rental income from the husband's farm used to pay the principal on the farm loan. The marital estate was not entitled, however, to reimbursement from the proceeds of the farm equipment sale.
Read More About This CaseMARYLAND: Long v. Long, No. 1844 (Md. Ct. Spec. App. Nov. 29, 2001).
The Maryland Court of Special Appeals just made it easier to hide income by holding that a court may not impute income by drawing an adverse inference against a party who pleads the Fifth Amendment.
Read More About This CaseMISSISSIPPI: Franks v. Franks, 759 So. 2d 1164 (Miss. 1999).
Are the husband's investment accounts, stocks, and bonds nonmarital property and, thus, not subject to equitable distribution?
Read More About This CaseMISSOURI: In re Marriage of Ballay, 924 S.W.2d 572 (Mo. Ct. App. 1996).
Calves that were born during the marriage of the husband and wife, to dairy cows that were acquired by the husband before the parties' marriage, were marital property, as was income from the dairy farm and equipment purchased with income from the farm.
Read More About This CaseNORTH DAKOTA: Linrud v. Linrud, 552 N.W.2d 343 (N.D. 1996).
It was error for the trial court to divide the parties' property in proportion to their incomes without an additional explanation for the substantial disparity in the division.
Read More About This CaseVERMONT: Clark v. Clark, No. 99-028 (Vt. June 22, 2001).
The father argued that the court incorrectly determined the amount of the modified award because the court failed to impute income to the mother for stocks that the father contends were performing poorly, stocks that were not generating any income at the time of the hearing, expenses the trust incurs annually, and the increase in value of the trust corpus.
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WASHINGTON: In re Marriage of Zahm, ___ Wash. App. ___, 955 P.2d 412 (1998).
A spouse's Social Security benefits are the separate property of that spouse, but at least when such benefits are currently being received they may be considered as a factor for the purpose of dividing property or awarding maintenance.
Read More About This CaseWASHINGTON: In re Marriage of Stenshoel, ___ Wash. App. ___, 866 P.2d 635 (1993).
Property settlement payments do not constitute income for the purpose of calculating child support.
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