Ray v. Ray - 2014 - Equal Division of Business
KIMBERLY MODENA RAY v. ROGER LEE RAY
Direct Appeal from the General Sessions Court for Warren County
No. 8602 Larry B. Stanley, Jr., Judge Sitting by Interchange
No. M2013-01828-COA-R3-CV - Filed October 28, 2014
Tennessee Court of Appeals Middle Section - Filed October 28, 2014; This was an appeal from a divorce proceeding. The parties were married thirteen years and started a successful business during that time known as Nurse One. The husband became disabled during the marriage and was no longer able to work. Following a two-day bench trial, the trial court valued the parties’ marital assets, including the business, and attempted to divide the marital property equally. The court ordered the wife to pay the husband $2,100 per month in alimony in solido for five years. On appeal, the wife raised several issues regarding the trial court’s valuation and division of marital property, and both parties challenge the alimony award. Vance valued the business as the mutual expert and testified as to value and owner compensation. The COA ruled that the trial court did not abuse its discretion in concluding that an equal division of the business was equitable under the circumstances.