4 For the purposes of this case study, assume that the husband and the wife have mutually agreed to dissolve their marriage due to irreconcilable differences. Read the facts below and determine who should get each piece of property or asset listed after the fact pattern. Gary and Hanna have been married for just over three years. When they met, Hanna was a waitress and an aspiring actress and Gary was a firefighter. Hanna had appeared in a number of plays and several local commercials. Two years ago she auditioned for and received the starring role in an independent film. She was paid $25,000 at the time the film was made. She used part of the money to buy Gary an expensive watch, a new tuxedo to wear to the movie's premier, and several thousand dollars of casual clothing. She used the rest of the money to buy a certificate of deposit. At around the same time, Gary sold all the baseball cards he got as a kid on eBay. He made $2500 from the sales. Nine months ago Gary and Hanna had a huge fight and Gary moved back to his father's house. The two agreed to go to counseling in the hopes of resurrecting their marriage and both anticipated at the time that their separation was temporary. Two months after Gary moved out, he purchased a Power Ball ticket along with the rest of the members of his station. The firefighters won the big jackpot and took home $10 million dollars each. A month later, Gary and Hanna had another huge fight resulting in their decision to permanently separate and file for a divorce. Just before they filed for divorce, Hanna found out from her agent that her movie had won a major award at an independent film festival. Shortly thereafter, she found out that her movie had been picked up by a major studio. Hanna received a check for $250,000 the next week. She will also get 2% of the box office take. Industry experts predict that the movie will be a big success and could gross as much as $50 million in domestic distribution alone. Who should get which piece of property or asset? Be prepared to explain your answers. The Watch, Tux, & Clothing: Certificate of Deposit: $2500 from the Cards: The Lottery Winnings: The $200,000: The 2% from the movie: For the purposes of this case study, assume that the husband and the wife have mutually agreed to dissolve their marriage due to irreconcilable differences. Read the facts below and determine who should get each piece of property listed after the fact pattern. Chris and Dianna have been married for five years. Before they got married, Dianna developed a software program for organizing MP3 files on a computer. She founded a software company to sell her program. The company was purchased by Microsoft and Dianna took a job as a programmer there. She now earns $100,000 a year. Dianna used half the proceeds from the sale of her company as a down payment on a large house in Seattle. Now that she is married, she uses her salary to make the monthly mortgage payments. She used the other half to invest in a chain of coffee shops. Chris is an aspiring video game designer who works from home. He has yet to earn any money from his game designs. However, just after they got married, Chris inherited $500,000 from his Great Aunt Maude. He used the money to purchase a cabin on a lake and put the remainder in a savings account. Chris is a bit of a handyman and he has made a number of improvements to the house. An appraiser estimated that his work has caused the value of the house to increase by $50,000 over the last five years. Last year, Dianna sold some of her investments in the coffee chain and purchased a small boat for her and Chris to enjoy on the weekends at the cabin. Who should get which piece of property? Be prepared to explain your answers. The House: Coffee Shop Investments: The Lake Cabin: The Savings Account: The Boat: For the purposes of this case study, assume that the husband and the wife have mutually agreed to dissolve their marriage due to irreconcilable differences. Read the facts below and determine who should get each piece of property listed after the fact pattern. Adam and Beth have been married for 15 years and they have two children - age 14 and age 12. Adam works at Washington Mutual Bank where he is paid an annual salary of $75,000. Washington Mutual has a pension program that will pay Adam $25,000 a year upon retirement. Ten years ago he and Beth bought a house in the suburbs for $150,000. They used a $5000 bonus that Adam received as a down payment and have been making monthly payments on the mortgage ever since. The house is currently worth $300,000 and Adam and Beth still owe $75,000 on the mortgage. The house is completely furnished with items purchased during Adam and Beth's marriage. An appraiser has estimated the value of the furnishings at $50,000. Just after buying the house, Adam started allocating a portion of his monthly salary to savings and a portion to investments. The couple's savings account is now worth $30,000 and their investments are worth about $75,000. Last year, Adam surprised Beth at Christmas with a new station wagon that he had titled in her name. The year before, Adam surprised Beth with a $5000 diamond ring for her birthday. Adam drives an old VW bug that he has had since he was in high school. He loves the car because it seldom requires any work besides an oil change. Beth quit her job just before the couple married and intends to go back to work when the kids leave home. Who should get which piece of property? Be prepared to explain your answers. Adam's Pension: The House: The Savings Account: The Investments: The Wagon: The Diamond Ring