Opinion ID: 1279878
Heading Depth: 1
Heading Rank: 4

Heading: equitable division of marital assets.

Text: James' third specification of error is that the overall division of property is inequitable when measured against the criteria set out in Merrill v. Merrill, 368 P.2d 546, 547 n. 4 (Alaska 1962). This argument is inappropriate for consideration at this time. As we have noted in Wanberg v. Wanberg, 664 P.2d 568, 570 (Alaska 1983), the equitable division of marital assets involves a three step process. First, the trial court must determine what property is available for distribution. Second, the court must value the property. Third, the court must decide how the property should be equitably divided. Our decision in this case that the trial court erred at the first step of this process affects not only the second step, valuation of the marital property, but the third as well. Thus, the division of property must be vacated. REVERSED in part, VACATED in part, and REMANDED for further proceedings consistent with this opinion.