James Celestine v. Lisa Celestine (2011)

MEMORANDUM OF DECISION

The parties appeared for a dissolution trial on May 5, 2011, with an agreement on all issues except for the distribution of assets and liabilities.   The court dissolved the marriage and issued orders on the record, reserving judgment on the disputed issues involving the distribution of assets and liabilities.

After reviewing the evidence, the court finds there are total marital assets of approximately $87,000.   These assets include retirement funds of $55,000, bank accounts totaling $7,000 and equity in real estate valued at $25,000, including a $12,000 timeshare in Florida.   The court further finds that the defendant's debts of approximately $20,000 are primarily attributable to her expenditures.

The court has previously granted the defendant the right to obtain the title to the marital home, with equity of $13,000, conditioned upon her refinancing the mortgage within nine months to remove the plaintiff's name, upon which he shall quit-claim all his right title and interest in the home to the defendant.   Further, the defendant has been granted exclusive title to the joint Bank of America account with funds totaling $5,000.   The plaintiff has been granted exclusive right title and interest in the $12,000 time share, as well as his own $2,000 bank account.

In light of the defendant's greater earning history and capacity, and crediting the plaintiff with the creation of the remaining substantial asset, a 401(k) account valued at $55,000, the court orders $20,000 of this retirement fund to be transferred by the plaintiff to the defendant.   If a QDRO is necessary to effectuate the transfer of these funds, the parties shall share in the cost for the preparation of the QDRO, over which the court has retained jurisdiction.

The remaining $35,000 of the plaintiff's 401(k) account, in addition to his bank account of $2,000 and the value of the $12,000 timeshare granted to him by agreement of the parties, leaves the plaintiff with $49,000 in assets.   This reflects just over 55% of the marital assets, which the court finds to be fair and equitable under the facts and circumstances of this case and taking into consideration the provisions of General Statutes § 46b–81(c).

This order is in addition to other dissolution orders issued on the record.

SO ORDERED.

BY THE COURT

Mark H. Taylor, J.

Taylor, Mark H., J.