Tallerico v. Tallerico, Unpublished Decision (3-22-2001)
Tallerico v. Tallerico, Unpublished Decision (3-22-2001)
Opinion of the Court
DECISION AND JUDGMENT ENTRY Peter Tallerico appeals the decision of the Scioto County Court of Common Pleas. He argues that the trial court erred in ordering him to pay approximately thirty-three thousand dollars to Margaret Tallerico. Because we find that the trial court did not err in finding certain Bank One stock to be Margaret's separate property or in splitting the marital property equally, we disagree. Peter also argues that the trial court erred in ordering him to pay five hundred dollars per month in spousal support. Because we find that the trial court did not abuse its discretion, we disagree. Accordingly, we affirm the judgment of the trial court.
In September 1998, the trial court held a trial on the complaint for divorce. At the hearing, each party testified in detail as to investments held both in their own names and jointly. Margaret testified that at the time of the hearing she had 4,143 shares of Bank One stock. She testified that before the parties married she had 289 shares of First Bank Group, an entity that later became part of Bank One. This stock split several times during the marriage, eventually totaling 3478.5707 shares. She testified that she purchased an additional 330 shares with dividends from the stock. The 330 shares have since split to total 664.3725 shares.
The parties twice asked the court to postpone its decision because there was a possibility that they had settled the case, but ultimately informed the court that they could not settle. On January 31, 2000, the trial court filed its decision. It found that the post-trial memoranda of the parties indicated that they agreed on many issues. Peter's post-trial memorandum begins with the statement that he "for the most part agrees with the analysis set forth in [Margaret's] memorandum." The memorandum makes no mention of Margaret's memorandum's analysis that the Bank One stock remained separate even though it split. The memorandum also provides that "[t]he court must equalize the division of the assets," and calculated that Peter should pay $45,270.50 to Margaret if the trial court divided the assets according to his calculations.
After characterizing the parties' property as marital or separate, the trial court divided the marital property. Peter received real estate worth $127,810, stocks worth $194,255, a bank account worth $18,000, interest in an insurance escrow account worth $5,000, for a sum total of $345,065. The trial court found that $6,000 of this amount was separate property, and adjusted the sum total to $339,065. Margaret received real estate worth $93,172, stocks and investments worth $100,322, an annuity worth $36,483, and a bank account worth $42,651, for a sum total of $272,628. The trial court found that Peter received $66,437 more in marital property than Margaret and ordered Peter to pay Margaret $33,218.50 to equalize the division of marital property.
The trial court then considered the issue of spousal support. Although the trial court did not set forth the statutory factors, or refer to the appropriate code sections, the trial court considered: (1) the ages, physical and mental conditions of the parties (R.C.
Peter appeals and asserts the following assignments of error:
I. The trial court erred in ordering the Defendant-Appellant to pay to Plaintiff-Appellee the sum of Thirty-Three Thousand, Two Hundred, Eighteen Dollars and 50/100.
II. The trial court erred in ordering Defendant-Appellant to pay to Plaintiff-Appellee spousal support of Five Hundred Dollars ($500) per month.
Margaret argues that the Bank One stock that she owned prior to the marriage remained separate property even after it split.
When a trial court grants a divorce, it must determine whether the parties' property is marital or separate. R.C.
Marital property includes property currently owned by either or both of the spouses that was acquired by either or both of the spouses during the marriage. R.C.
Separate property includes any property acquired by one spouse before the marriage and passive income and appreciation acquired from separate property during the marriage. R.C.
We first address Peter's argument that we should follow Pickens and determine that dividends earned during the marriage from separate property are marital property. In Pickens, the husband filed for divorce prior to the enactment of R.C. 3151.171. Accordingly, we explicitly declined to consider the effect of R.C. 3151.171 on a determination of whether property was marital or separate. See, Pickens at fn. 2. Instead we proceeded "with our analysis under the substantive law in effect when the action was commenced." Id. Here, Margaret filed a complaint for divorce well after the effective date of Am.Sub.H.B. No. 514, which enacted R.C. 3151.171. Therefore the analysis of whether dividend income earned during the marriage from separate property is marital income should focus on the tests articulated in R.C. 3151.171. Our analysis inPickens is irrelevant to such a determination. Therefore we find thatPickens is distinguishable and has no bearing on our analysis.
Here, the additional shares of Bank One stock that resulted from stock splits resulted in no net increase in their value, and as such, the shares remain separate property. A stock split does not increase the value of a share, it simply increases the number of the shares while simultaneously decreasing the value of the resulting shares. The value of the shares after the split equals the value of the shares before the split. Thus, Margaret received no income as a result of the split, and thus the split did not generate any additional property.
While R.C.
In his post-trial memorandum, Peter urged the trial court to equally divide the marital property. He cannot now claim that the trial court erred in doing what he invited the court to do. "[A] litigant may not `take advantage of an error which he himself invited or induced.'" Statev. Campbell (2000),
Having rejected Peter's arguments, we overrule his first assignment of error.
It is well settled that trial courts enjoy broad discretion in awarding spousal support. Kunkle v. Kunkle (1990),
Once a party requests spousal support, the court may award an "appropriate and reasonable" amount. R.C.
(a) The income of the parties, from all sources, including, but not limited to, income derived from property divided, disbursed, or distributed under section
3105.171 of the Revised Code;
(b) The relative earning abilities of the parties;
(c) The ages and the physical, mental, and emotional conditions of the parties;
(d) The retirement benefits of the parties;
(e) The duration of the marriage;
(f) The extent to which it would be inappropriate for a party, because that party will be custodian of a minor child of the marriage, to seek employment outside the home;
(g) The standard of living of the parties established during the marriage;
(h) The relative extent of education of the parties;
(i) The relative assets and liabilities of the parties, including but not limited to any court-ordered payments by the parties;
(j) The contribution of each party to the education, training, or earning ability of the other party, including, but not limited to, any party's contribution to the acquisition of a professional degree of the other party;
(k) The time and expense necessary for the spouse who is seeking spousal support to acquire education, training, or job experience so that the spouse will be qualified to obtain appropriate employment, provided the education, training, or job experience, and employment is, in fact, sought;
(l) The tax consequences, for each party, of an award of spousal support;
(m) The lost income production capacity of either party that resulted from that party's marital responsibilities;
(n) Any other factor that the court expressly finds to be relevant and equitable.
R.C.
However, we do not engage in an analysis of the statutory factors to determine what amount, if any, the trial court should have awarded as spousal support. Rather, our review is limited to whether the trial court abused its discretion in making its determination.
Peter argues that the trial court failed to consider the following items: (1) the potential interest income from the $33,000 Peter must pay to Margaret that Peter will lose and Margaret will gain; (2) the potential that Peter's earnings will decrease if he retires from his insurance business; (3) the retirement benefits Margaret is eligible for through her Prudential investment. Peter also argues that the trial court placed too much emphasis on the fact that the parties enjoyed a high standard of living while married.
The trial court did not abuse its discretion in awarding $500 per month in spousal support to Margaret. The trial court explicitly considered the relevant factors, including the parties' income (including income from the Prudential investment), ages, health, employment histories, retirement benefits, standard of living, the likelihood of future employment, the tax consequences of the spousal support award, and the length of the marriage. The trial court reserved jurisdiction to modify the spousal support award. Therefore, if Peter retires, the trial court may consider whether to modify the award of spousal support. We find that the trial court did not act unreasonably, arbitrarily, or unconscionably in awarding spousal support. Accordingly, we overrule Peter's second assignment of error.
The Court finds there were reasonable grounds for this appeal.
It is ordered that a special mandate issue out of this Court directing the Scioto County Court of Common Pleas to carry this judgment into execution.
Any stay previously granted by this Court is hereby terminated as of the date of this entry.
A certified copy of this entry shall constitute the mandate pursuant to Rule 27 of the Rules of Appellate Procedure.
Exceptions.
_____________________ Roger L. Kline, Judge
Harsha, J. and Evans, J.: Concur in Judgment and Opinion.
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