Adams v. Adams

778 So.2d 825 (2000)

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Nature of the Case

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Facts

W is 59 years old and in good health. She lives with a 37-year-old unmarried daughter. W nor the daughter is employed. The daughter has 'emotional problems,' and has always lived with her parents, and has never been employed. W was not employed during the marriage. W has a high school diploma. Between 1988 and 1990, she earned three degrees: two associate degrees (one in general education and one in retail merchandising) and a bachelor's degree in personnel management. H is 62 years old and in poor health after cardiac-bypass surgery. H retired in 1994 from the Monsanto Corporation, where he had been employed for over 30 years. H set up an investment account at A.G. Edwards & Sons and that he intended that he, W, and his daughter would live on the interest from that account during his retirement. At the time of the separation, the A.G. Edwards account balance was approximately $426,000. At the time of the divorce, the account balance was $367,542. The net monthly income from the investment account is $1,960. H testified that he will receive an additional $1,200 per month in Social Security benefits when he reaches age 65. It is undisputed that, during the parties' one-year separation, H voluntarily deposited $1,000 per month in a checking account for W. It is also undisputed that W routinely overdrew that account in the amount of $500 to $700 every month. W was awarded the marital home and an adjoining lot, together valued at between $50,000 and $56,000. W was also awarded all the furnishings of the home, valued at $2,000. TH was ordered to pay the $3,000 mortgage indebtedness on the marital home, at a monthly payment of $155. W was awarded two vehicles valued at $3,000 each; H was awarded two vehicles valued at $3,500 and $3,000. H was awarded stocks worth $17,800 and the investment account totaling $367,542. H was ordered to pay the wife periodic alimony of $600 per month for three years and then $750 per month thereafter. H was also ordered to provide health insurance for the wife through a COBRA plan for as long as the law allowed. This appeal resulted.