5D99-826 Nelson v. Nelson

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State: Florida

Court: Florida Fifth District Court

Docket No: 5D99-826

Case Date: 06/25/2001

Preview:IN THE DISTRICT COURT OF APPEAL OF THE STATE OF FLORIDA FIFTH DISTRICT JANUARY TERM 2001

JESSE J. NELSON, Appellant/Cross-Appellee, v. BETTY J. NELSON, Appellee/Cross-Appellant. ______________________________/ Opinion filed June 29, 2001 Appeal from the Circuit Court for Brevard County, Kerry E. Evander, Judge. Michael R. Riemenschneider of O'Brien, Riemenschneider & Kancilia, P.A., Melbourne, for Appellant/Cross-Appellee. Scott Krasny of Krasny and Dettmer, Melbourne, for Appellee/Cross-Appellant SHARP, W., J. The former husband Jesse Nelson (Jesse) appeals from a final judgment of dissolution rendered February 8, 1999, and the former wife Betty Nelson (Betty) cross appeals. Jesse raises several points on appeal, which we summarize: (1) the trial court's valuations of certain marital assets are not supported by substantial competent evidence, and it resulted in an inequitable distribution of assets to him, (2) the trial court abused its discretion in requiring him to pay Betty monthly sums in excess of his ability to pay, and (3) the trial court abused its discretion CASE NO. 5D99-826 CORRECTED

in requiring him to maintain life insurance to secure his alimony obligations to Betty. We agree Jesse is entitled to some relief as discussed below. Betty argues on her cross appeal that the trial court erred in not granting her a perfected security interest in the stock of Nelson Engineering and that she should have been awarded all of her attorney's fees, based on the disparity of the parties' incomes. We affirm the trial court on the cross appeal. The Nelsons had a long-term marriage; thirty-eight and one-half years. They were blessed with five children, all adults at the time of the dissolution. Jesse graduated from high school, but Betty did not complete high school. He was 65 years old at the time of the dissolution and Betty was 61. Betty had suffered various health problems, but at the time of the dissolution was doing well. Jesse was in good health with no plans for retirement. The parties married when both were very young and had few assets. The considerable wealth and assets they accumulated over the time of their marriage were properly classified by the trial court as marital. During the latter part of their marriage, they enjoyed a high standard of living, which encompassed a summer home in Tennessee, vacations overseas, yachts, and new cars. The source for the parties' good fortune and income was and is Nelson Engineering Company, which the parties jointly owned. The parties separated in March of 1995 and Betty filed a petition for dissolution in November of 1996. The trial court selected December 31, 1996 as the date upon which to value Nelson Engineering, as well as the parties' certificates of deposit. It also selected March 14, 1996 as the date chosen to value other corporations and assets owned by one or both of the parties. The court explained this was because they were controlled and managed by Jesse, and the court had in evidence a financial statement dated March 14, 1996, sworn to as accurate by Jesse. No other proof of value was presented at trial, of values for those assets close to the date of the parties'

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separation. It chose to accept the values shown on the financial statement. The parties were able to stipulate and agree to the valuation of the real estate properties owned by them. The court distributed the parties' assets as follows: Jesse: Nelson Engineering 1,520,000 Government Bonds 58,000 A.G. Edwards Account 113,000 Ginnie Mae bonds 125,000 Blue Water 330,000 Excel-Tel Services 300,000 Pexin Farms 211,000 Retirement Plan 244,000 IRA w/A.G. Edwards 14,000 Funds-Grandkids account 10,000 Pontoon boat 2,500 31 foot Scarab boat 17,000 1985 Jaguar 8,500 1992 Corvette 24,000 Property; 253 Terrance Ave., 67,500 Melbourne ($80,000 less mortg. 12,500) Funds received 113,000 New England Life Insurance policies TOTAL: $3,157,500 Betty: All certificates of deposit 215,000 Retirement Plan 123,000 IRA w/A.G. Edwards 14,000 Funds removed from 6,000 Grandkids account Bass Boat 2,500 1989 Jaguar 11,300 Personal Property 20,000 Melbourne Property: Timeshare 6,000 1/4 acre, Bay County, FL 7,425 Lots 455, 456 InletBch. Heights 20,000 Lot 106, Riviera Beach 4,350 Marital Residence - 2781 181,000 Pineapple Ave., Melbourne (300,000 less mortg. 118,000) Part of Lots 3 & 4, Block F, 189,000 Almar Subdivision (250,000 less mortg. 61,000) 42 acres, sections 34, 35, 21,500 Levy County, FL Sections 34, 35 3,000 Levy County, FL (22,000 less mortg. 19,000) Lots 12 & 14, Buttons Subdiv. 100 Seminole County, FL Tract 8, Chas. Hedrick Property 14,700 Sevier County, TN Residence; Sevier County, TN 103,600 Lot & Furnishings, as above 10,000 10.5 acres, Sevier County, TN 35,000 Harrisburg Bridge property 12,000 Sevier County, TN 3

Tracts 1 & 2, Jones Cove Rd. 102,400 Property; Sevier County, TN

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