Source: http://fl.bna.com/fl/19980609/96506.htm
Timestamp: 2019-04-20 14:20:23+00:00

Document:
The equitable distribution of marital assets is within the discretion of the trial justice. Stevenson v. Stevenson, 511 A.2d 961, 964 (R.I. 1986). "In reviewing the findings of a trial court, ‘it is not our function to arrive at de novo findings and conclusions of fact based on the evidence presented at trial.' " Moran v. Moran, 612 A.2d 26, 33-34 (R.I. 1992) (quoting Casey v. Casey, 494 A.2d 80, 82 (R.I. 1985)). If the trial justice "did not overlook or misconceive material evidence, and if he [or she] considered all the requisite statutory elements, this court will not disturb the trial court's findings. Cok v. Cok, 479 A.2d 1184, 1189 (R.I. 1984)." Thompson v. Thompson, 642 A.2d 1160, 1162 (R.I. 1994).
Richard's first argument on appeal is that the trial justice should have first deducted from the total amount of his CSRS benefits the amount that he would have received in Social Security benefits had he not decided to opt out of the Social Security system. The trial justice should have then divided the remaining balance between him and Janet. He justifies that reduction argument by asserting that Social Security benefits are not subject to equitable assignment in divorce proceedings, Kirk v. Kirk, 577 A.2d 976 (R.I. 1990), and that he is entitled to that same federally provided protection against equitable assignment because he contributed to the CSRS pension program in lieu of paying into the Social Security system.2 Richard claims that his "hypothetical social security benefits" are akin to traditional Social Security benefits and that as a result he should be treated like "any other citizen of the United States."
Additionally, the New Jersey court in White v. White, 664 A.2d 1297 (N.J.Super. 1995), concluded that in order to distribute the marital assets between the husband and the wife more equitably, an amount representing what the husband hypothetically would have received in Social Security benefits should not be deducted from his CSRS pension benefits before the court distributed them. After distinguishing Cornbleth, the court in White further explained that "[t]he principal difficulty with an offset in this case is the difference in time when the parties will be eligible for their respective benefits." Id. at 1299. We are confronted with that difficulty as well because Richard and Janet are not of comparable ages (Richard is seven years older than Janet), as were the parties in Cornbleth.
Although the present value method is typically the preferred approach because it "effects a complete severance of the spouses' interests and gives each spouse immediate control of his or her share of the marital property," DuBois v. DuBois, 335 N.W.2d 503, 505 (Minn. 1983), it is not always feasible under the facts of a particular case to award a lump-sum amount. Having insufficient other assets to pay the amount of the present value award is one reason distribution must be deferred. See Krafick v. Krafick, 663 A.2d 365, 374 (Conn. 1995). Another situation in which the present value method is not the preferred distribution method is when " ‘no present value can be established [by expert testimony] and the parties are unable to reach agreement' as to the value of the pension. Kikkert v. Kikkert, supra, 177 N.J.Super. at 478, 427 A.2d 76." Krafick, 663 A.2d at 374. Moreover, the deferred distribution method is proper when "the needs of the parties * * * militate against a present cash value method.' " In re Marriage of Kelm, 878 P.2d at 36.

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