Opinion ID: 871547
Heading Depth: 2
Heading Rank: 3

Heading: Supplemental Divorce Decree

Text: On October 7, 2008, the family court filed a Supplemental Divorce Decree Re Division of Assets and Debts After Entry of Bifurcated Divorce Judgment (Supplemental Divorce Decree), in which the court divided Aaron and Bonnie's property into Marital Partnership Property and Marital Separate Property and distributed the assets accordingly. The court concluded, inter alia, that the following assets were Marital Partnership Property: (1) the marital residence; and (2) the $10,000 gift and $50,000 inheritance that Bonnie received in 1992. With regard to these assets, the court stated in pertinent part: 1. Marital residence. The divorce decree entered on October 1, 2007 awarded the marital residence at Malino Road, Kauai, Hawaii to [Aaron] as his sole and separate property. The parties were each awarded one-half of the equity in the marital residence. The mortgage on the marital residence is $57,163. The total equity in the marital residence as of June 30, 2008 was $477,836. Each party is therefore entitled to $238,918 as his/her share of the equity in the home. [Aaron] is permitted to offset [Bonnie's] share of the equity in the Malino Road property with the share of the marital partnership property to which he is entitled. Should [Aaron] decide to sell the Malino Road property, he shall be solely responsible for the costs of sale. [Bonnie] shall timely execute all documents necessary to effect the property division. 2. OMIF account number XX-XXXX. The $10,000 gift and $50,000 inheritance which [Bonnie] received in 1992 are marital partnership assets. The $33,334 received by [Bonnie] in 2002 and deposited in OMIF account # XX-XXXX account [sic] is separate marital property as further described below in paragraph B(6). This account's value on June 30, 2008 was $167,102. [Bonnie] is awarded $60,000 as her category 3 marital partnership property. The appreciation on the $60,000 is category 4 marital partnership property and said appreciation is awarded ½ to each party. The appreciation on the $60,000 is $58,810. [Bonnie] and [Aaron] are each entitled to ½ of $58,810 or $29,405. Therefore [Bonnie] is awarded $60,000 plus $29,405 and [Aaron] is awarded $29,405. The family court further concluded that the following gift and inheritances received by Bonnie in 2002 constituted Marital Separate Property and awarded her one hundred percent, along with any appreciation therein: 1. Gift of $33,334 from Violet McLeod[.] 2. Central Coast Paytel partnership from Violet McLeod valued at $3,333[.] 3. Violet McLeod's IRA account in OMIF ([Bonnie] as beneficiary) presently valued at $152,588[.] 4. Smith Barney account # XXX-XB632 Traditional Inherited IRA Bonnie Kakinami CGM IRA Beneficiary Custodian, valued at $137,946.08[.] 5. All assets, account numbers 104 045881 and 104 045882 titled in [Bonnie's] individual name managed by Morgan Stanley presently valued at $483,255. 6. OMIF account number XX-XXXX. The balance of account number XX-XXXX after deduction of [Bonnie's] $60,000 capital contribution plus $58,810 appreciation on that amount (total $118,810, pursuant to paragraph A(2) above) is marital separate property. [Bonnie] is awarded the balance of this account. The family court also indicated that it shall have continuing jurisdiction over the parties and their property to enforce and implement the provisions of this decree.