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June 14, 2007

Marital Property Decisions

Filed under: Marital Property Decisions — davidmsiegel @ 7:49 am

Award to wife of assets having twice the value of those awarded to husband was within the “range of reason” and not an abuse of discretion.  In re Murphy
 Distribution of property was clearly not against the manifest weight of the evidence nor an abuse of judicial discretion where trial court considered all relevant factors in division of property and pointed out that the award to respondent of the business (valued at $600,000) and the land resulted in a “lopsided division of marital property” in favor of respondent but reasoned that the best interests of all concerned were served by such an award because the corporation had thrived under the direction of respondent over the years he had operated it and court attempted to equalize respondent’s award by awarding petitioner the sum of $100,000.  In re Rossi
 There was no abuse of discretion in property division or award of maintenance where petitioner received 47% of net assets and respondent received 53%, and respondent was awarded $350 per month maintenance and $30,000 as her share of grain on hand with approximate value of $66,000, although petitioner’s federal income tax returns showed losses from farming operations due to large amounts of depreciation and tax credits.  In re McDonlad

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