Carol Ann Vick Watson v. Frank Lee Watson, Jr.

This is the second appeal in this divorce case. The husband is a lawyer and the wife was a homemaker during most of the marriage. After the divorce trial, the trial court divided the marital estate, awarded the wife transitional alimony, and ordered each party to pay his or her own attorney’s fees. The wife appealed and the husband cross-appealed. In the first appeal, the appellate court reversed the trial court’s valuation of two marital assets, stock and a corporation, and remanded for the trial court to re-value those assets. In addition, the trial court’s decision regarding the husband’s alleged dissipation of marital assets was reversed, and that issue was remanded to the trial court for reconsideration as well. The issues raised on alimony and attorney’s fees were not addressed in the first appeal. On remand, the trial court found a debt owed by the corporation to the husband was uncollectible and determined that the value of the corporation was zero. The trial court adjusted the valuation of the wife’s interest in the stock and engaged in a detailed analysis of the husband’s alleged dissipation of marital assets, finding no dissipation. On remand, the wife sought an award of alimony in futuro. The trial court declined to award alimony in futuro but awarded the wife an additional year of transitional alimony. Finally, the trial court declined the wife’s request for her attorney’s fees. Both parties now appeal. We affirm the trial court’s finding that the husband did not engage in dissipation, affirm the trial court’s increased property award to the wife, reflecting her interest in the stock, reverse the trial court’s finding that the value of the corporation is zero, and remand to the trial court for valuation of the corporation and division of that asset, modify the trial court’s award of alimony by awarding the wife alimony in futuro when the transitional alimony ends, affirm the trial court’s refusal to award the wife her attorney’s fees, and order the award of postjudgment interest on the wife’s increased property award from the stock, dating from the date of the judgment on remand.