- 12 -
5. Significant Benefit
Where the requesting spouse significantly benefited (beyond
normal support) from the item giving rise to the deficiency, this
is a factor against granting equitable relief. Id. sec.
4.03(a)(v), 2003-2 C.B. at 299; see sec. 1.6015-2(d), Proced. &
Admin. Regs.
Petitioner testified that Ms. Valentine used about $1,500 of
the distribution to pay off his truck, and that she also used the
distribution, in an unknown amount, to pay “a couple other
things” for petitioner. Petitioner further testified that he
subsequently withdrew $3,000 from his thrift savings plan to
repay Ms. Valentine. Pursuant to the Decree of Dissolution of
Marriage, section 6h, Separate Debt, petitioner is responsible
for a debt in the amount of $14,000, described as “spouse paid
debts by borrowing from her 401K/ Truck Loan, taxes, Orange Tree
Resort Time Share”.
The facts and circumstances tend to suggest that petitioner
did not receive any significant benefits from the distribution,
because he has either repaid or is obligated to repay the funds
that he received from the distribution. Nevertheless, it remains
unclear how much petitioner initially received from the
distribution and whether he has repaid or will actually repay all
the funds that he received from the distribution. The Court
concludes that this is a neutral factor.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Next
Last modified: May 25, 2011