Opinion ID: 2633386
Heading Depth: 3
Heading Rank: 3

Heading: Valuation of Cash Assets

Text: The trial court found that the parties had $27,000 cash on hand and approximately $6,900 [13] in bank accounts that were divided at separation. The trial court included this money in the pool of marital assets. It determined that Gary had received the bank balances of approximately $6,900, as well as $20,000 of the cash that the Greens kept under the bed, and that Nancy had received $7,000 cash from under the bed. We have held that it is error to place a value on an account that has been emptied prior to trial. [14] It is also error for a trial court to value assets at separation, rather than at trial, unless it makes specific findings as to why the date of separation is the more appropriate time for valuation. [15] Here, the trial court made no such findings. We therefore remand to the trial court for findings on whether the Greens' marital cash assets were still available at trial. The trial court should also consider on remand whether evidence exists that the cash was dissipated, wasted, or converted to a non-marital form, warranting recapture of the marital asset by valuing the asset pre-separation and crediting all or part of it to the account of the party who controlled the asset. [16]