In calculating alimony, income will be imputed to the owner of non-income producing assets. In a case captioned Sherlock v. Sherlock, the husband appealed the final judgment dissolving the parties' marriage. The parties were married for seventeen years. A seventeen year marriage is rebuttably presumed to be a long-term marriage. The husband was awarded non-income producing assets. These assets were comprised of financial accounts and real estate.
In making a division of property and assets in a divorce proceeding in Florida, the award of a ½ ownership interest in property as of a particular date entitles the recipient to share in the gains and losses in the account on the date of distribution. In Graham v. Graham the Florida Court of Appeal stated that: "JoAnn Graham appeals an order granting post-judgment relief on grounds it fails to effectuate the marital settlement agreement she and Nathaniel Graham entered into in September of 1994 in anticipation of the dissolution of their marriage later that year. She maintains the trial court erred both in calculating her share of the former husband's 401 (k) account and in calculating her share of his Army pension. Persuaded she is right in both instances, we reverse and remand.