Coleberd v. Coleberd

933 S.W.2d 863, 1996 WL 557488
CourtMissouri Court of Appeals
DecidedSeptember 30, 1996
Docket20196, 20838
StatusPublished
Cited by19 cases

This text of 933 S.W.2d 863 (Coleberd v. Coleberd) is published on Counsel Stack Legal Research, covering Missouri Court of Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Coleberd v. Coleberd, 933 S.W.2d 863, 1996 WL 557488 (Mo. Ct. App. 1996).

Opinion

BARNEY, Presiding Judge.

Respondent Linda Ann Coleberd (Wife) appeals the trial court’s judgment dissolving her marriage to Petitioner James C. Cole-berd (Husband). 1 The parties were married approximately 30 years and they have two emancipated children. At time of trial Wife was 54 and Husband was 57. Husband, a *866 physician, had recently suffered a heart attack. Husband’s earnings at trial time approximated $129,000.00 a year, inclusive of benefits, while Wife earned approximately $40,000 a year as head nurse in a nursing home. Additionally, Husband receives income from his interest in Mark Twain Cave, Inc., a corporation operating a tourist attraction in Hannibal, Missouri. While Husband studied in medical school and during his internship wife worked outside the home, helping support the family.

Wife raises five points of trial court error in Case No. 20196. She contends that the court erred in finding and holding that: (1) Husband’s corporate stock in Mark Twain Cave, Inc., was a non-marital asset; (2) Husband’s inherited and gifted interest in the assets of a partnership (consisting primarily of real property being leased to Mark Twain Cave, Inc.) was a non-marital asset; (3) Wife had no interest in the real property on which the cave enterprise was operated even though, in 1990, Husband titled his interest in the property as a tenancy by the entirety with Wife; (4) Wife was not entitled to maintenance; and (5) the marital properties should be divided equally.

In Case No. 20838 Wife asseverates that the trial court erred in denying her motion for temporary maintenance and attorney fees during the pendency of this appeal. This Court consolidated the appeals but addresses them separately in this opinion.

Case No. 20196

NON-MARITAL ASSETS

The trial court awarded Husband non-marital properties consisting of 32.2 percent of the stock of Mark Twain Cave, Inc., together with all the real estate (being 32.2 percent of the totality of the real estate being leased to the corporation). The trial court then assessed Husband’s combined interest in the stock of the corporation and the partnership assets, inclusive of the real estate, at $688,-174.00. Additionally, the trial court set off to Husband his interest in a duplex property inherited from his mother with a net value of $37,600.00.

As her separate property, the trial court set off to Wife an Edward D. Jones account and a Merrill-Lynch account in the combined amount of approximately $50,000.00.

MARITAL ASSETS

Wife received marital assets consisting of the marital home, a recreational cabin, a 1989 Cadillac, various furnishings and personal items, together with savings and retirement accounts, and an Internal Revenue Service refund check, all totaling $434,238.81. Included in this amount were debts allocated to Wife consisting of approximately $2,201.11 for miscellaneous charges and real estate taxes on the marital home and recreational cabin, together with the mortgage on the marital home in the amount of $113,679.57.

Husband received marital assets consisting of a 1990 Lincoln Towncar and a 1984 Ford F150, personal items and furnishings, his interest in a condominium, together with certain savings and retirement accounts, all totaling $434,238.81. Included in this total were debts in the approximate amount of $166,500.00, exclusive of his attorney fees. Additionally, Husband was allocated an indebtedness resulting from a failed business venture arising from the building and operating of a Holiday Inn motel complex in Clinton, Missouri. Industrial Development bonds had been issued in the sum of $3,900,-000.00 to raise money for the project and Husband guaranteed 45% of the issuance. The trial court found that the money generated from the foreclosure was inadequate to pay off an indeterminate amount of indebtedness now owed to the Federal Deposit Insurance Corporation (F.D.I.C.). 2

No maintenance award was made to Wife although requested by her. However, the trial court awarded her attorney fees in the amount of $5,733.63.

I.

The standard of appellate review is found in Rule 73.01(c), Missouri Rules of Civil Pro- *867 eedure (1996) and is governed by the principles of Murphy v. Carron, 536 S.W.2d 30, 32 (Mo. banc 1976). This same standard of review applies to decrees of dissolution of marriage. In re Marriage of Betz, 880 S.W.2d 618, 619 (Mo.App.1994). “The decree will be sustained unless there is no substantial evidence to support it, unless it is against the weight of the evidence, unless it erroneously declares the law, or unless it erroneously applies the law.” Id. “The division of marital property is discretionary with the trial court and we must defer to the court’s judgment unless it is an abuse of discretion.” Kettler v. Kettler, 884 S.W.2d 729, 731 (Mo.App.1994). “Due regard is given to the trial court’s determination on the credibility of witnesses.” In re Marriage of Gardner, 890 S.W.2d 303, 304 (Mo.App.1994). “The trial judge is in a better position than this court to determine the credibility of the parties, their sincerity, character and other trial intangibles which may not be shown by the record.” Id, at 304r-05. “The trial judge, as the trier of fact, can disbelieve testimony even when uncontradicted.” Id, at 305.

Wife’s first three points center around the trial court’s non-marital classification of Husband’s 58/180th (32.2 percent) interest in the shares of stock of Mark Twain Cave, Inc., and the same proportionate interest in 350 acres of land on which is located the Mark Twain and Cameron Caves in Marion County, Missouri, upon which a tourist attraction has been operated by Husband’s family since the 1920s.

Husband’s legal interest in the personal and real property relating to the cave enterprise was acquired during the course of the marriage from gifts and inheritances derived from Husband’s mother and aunt.

In late 1982 a partnership was formed under the name of Mark Twain Cave for the purpose of operating the cave. However, title to the real property was retained in the respective individual names of Husband, his brother and his cousin.

The partnership continued operating the tourist attraction and all operating expenses and improvements to the property were paid from earnings derived from the cave operations. Income was distributed annually to the partner-relatives. However, some of the earnings were retained by the partnership, as cash reserves for future needs of the cave enterprise.

On January 13, 1986, a corporation, Mark Twain Cave, Inc., was formed. It is not clear how many shares of stock Husband received, although it is certain that Husband received a 32.2 percent interest in the stock of the corporation. 3

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Bluebook (online)
933 S.W.2d 863, 1996 WL 557488, Counsel Stack Legal Research, https://law.counselstack.com/opinion/coleberd-v-coleberd-moctapp-1996.