Third Parties
MISSOURI: Tarneja v. Tarneja, 164 S.W.3d 555 (Mo. Ct. App. 2005).
The husband operated a radiology practice with another doctor, using a corporation to hold and manage his 50% share of the practice's net profits. Partway through trial, he conveyed the assets of the corporation to a new corporation owned equally by himself and his partner. The trial court properly held that 100% of the value of the corporation, as it existed before the transfer, was marital property. The trial court properly rejected the valuation testimony of the husband's expert, which was based upon the tax effect of the liquidation value. The trial court did not err by valuing a fluctuating investment account at its value partway through an eight-month trial, ignoring a $93,000 loss in value over the next four months, where the husband was not able to account for withdrawals or explain why the loss occurred.
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GEORGIA: Gardner v. Gardner, 276 Ga. 189, 576 S.E.2d 857 (2003).
Where all of the parties' assets were titled in the name of the husband's corporations, the corporations were properly joined as parties to the divorce case.
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COLORADO: Martinez v. Gutierrez-Martinez, 77 P.3d 827 (Colo. Ct. App. 2003).
A home, transferred to the wife during the marriage by her sister, was not marital property. The home was transferred only so that the wife could refinance the mortgage, because the sister could not do so herself, so that the wife held the property in resulting trust for the sister's benefit. The trial court erred by finding insufficient evidence to determine the amount by which certain separate property appreciated in value. The trial court did not err by disbelieving the husband's uncontroverted testimony that certain withdrawals from marital bank accounts had been made by the wife.
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