EFTA01363336.pdf

Page 20 2014 V.I. LEXIS 45, *; 61 V.I. 13, ** expectation of a higher standard of living in the future can be frustrated by the dissolution of a marriage. Family Law > Marital Termination & Spousal Support > Dissolution & Divorce > Property Distribution > Classification > Degrees, Licenses & Enhanced Earnings [HN7] Many states have compared professional degrees to pension or retirement plans when establishing what constitutes marital property. Pension and retirement plans entitle an owner to a definite amount at a certain date, which an individual has a contractual right to receive. Professional degrees rely on uncertain future events and provide only an expectation of enhanced income. The value of a professional degree is speculative and dependent upon the attributes and future choices of its possessor to be fairly valued. Family Law > Marriage > General Overview [FINS] The Virgin Islands has long viewed marriage as a partnership or joint venture, whereby both parties collaborate for a common purpose and contribute toward its success. Family Law > Marital Termination & Spousal Support > Dissolution & Divorce > Jurisdiction > General Overview Family Law > Marital Termination & Spousal Support > Dissolution & Divorce > Property Distribution > General Overview [HN9] The court has the authority to divide the personal property in divorce action even after a divorce decree has been issued. The trial court will be required to issue rulings on post-divorce ownership of personal property such as cars, boats, electronics, jewelry, shares of stock, bonds and monies deposited with financial institutions. Civil Procedure > Sanctions > Contempt > Civil Contempt [HN10] A party may be held in civil contempt for failure to comply with a court order if (1) the order the contemnor failed to comply with is clear and unambiguous, (2) the proof of noncompliance is clear and convincing, and (3) the contemnor has not diligently attempted to comply in a reasonable manner. SUMMARY: Division of property in divorce case. The Superior Court, Watlington, J., divided the parties' real and personal property. HEADNOTES VIRGIN ISLANDS OFFICIAL REPORTS HEADNOTES (Headnotes classified to Virgin Islands Digest) 1. Divorce § 11.50--Division of Property--Power of Court In an action for divorce, the court has the authority to equitably divide joint personal property and real property, limited to the marital homestead. Real property owned by the couple, other than the marital homestead, is divided by way of a civil partition action. When determining the equity of the For internal use only CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0053298 CONFIDENTIAL SDNY_GM_00199482 EFTA01363336