In Re Marriage of Cornell

550 S.W.2d 823, 1977 Mo. App. LEXIS 2013
CourtMissouri Court of Appeals
DecidedMarch 28, 1977
Docket9979
StatusPublished
Cited by33 cases

This text of 550 S.W.2d 823 (In Re Marriage of Cornell) 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
In Re Marriage of Cornell, 550 S.W.2d 823, 1977 Mo. App. LEXIS 2013 (Mo. Ct. App. 1977).

Opinion

BILLINGS, Chief Judge.

Dissolution of marriage proceeding. Issues presented by the wife’s appeal are the lower court’s division of marital property, the monthly maintenance award to the wife, and the amount of the monthly child support for a minor child. We reverse in part and remand with directions.

Harry and Shirley were married in 1948. During the following two years while he was completing his degree at the University of Missouri at Columbia, Shirley worked as a secretary and receptionist. After Harry’s graduation in 1950 he went to work for Leggett & Platt, Inc., at its plant in Louisville, Kentucky. In 1953 he became manager of a Leggett & Platt plant in Ennis, Texas, and in that year the first of the parties’ three daughters was born.

In 1958 or 1959 Harry and several associates formulated a plan to acquire control of the company which had its main office in Carthage, Missouri. The take-over plan succeeded and the family moved to Carthage in late 1959. Harry became president and chief operating officer of Leggett and Platt in 1960. From 1960 to 1974 the number of operating plants grew from three to thirty-two. The number of employees increased from 400 to 4500. Sales and profits dramatically increased. During 1972 and 1973, Harry grossed more than $100,000 from salary, bonuses, fees and dividends. His 1974 gross income totalled more than $140,000. During the years of marriage the parties accumulated sizeable real and personal assets.

Additional facts will be noted as specific points are discussed.

Division of Property

In its division of property the circuit court first set aside to the wife her separate property, as required by § 452.330, RSMo •Supp.1975. 1 This included a savings account of $4,468, a $5,000 certificate of deposit, 3999 shares of Leggett & Platt valued at $5.25 per share, and other stock worth $1,000. The total value of her separate property was $31,462.75. All other *825 property was held to be marital property 2 and was divided as shown below. Since the trial court made no findings concerning the values of the properties, the following illus-r trations set forth the valuations given by each party.

*826

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550 S.W.2d 823, 1977 Mo. App. LEXIS 2013, Counsel Stack Legal Research, https://law.counselstack.com/opinion/in-re-marriage-of-cornell-moctapp-1977.