Appeal from the Circuit Court of Cook County; the Hon. Charles
J. Grupp, Judge, presiding.
JUSTICE PERLIN DELIVERED THE OPINION OF THE COURT:
Petitioner, Mary Louise Davis (Mary), appeals the property division, maintenance and attorney fees portions of a judgment entered in the circuit court of Cook County dissolving her marriage to respondent, Jack R. Davis (Jack). She contends that the trial court erred in: (1) failing to "seek finality in the judgment"; (2) awarding to Jack the entire interest in his corporate law firm "without receiving evidence" as to its valuation; (3) failing to "evaluate or distribute" the law firm's pension plan; (4) awarding her only $1,000 per month for unallocated maintenance and child support for one year and; (5) requiring Jack to pay only two-thirds of her approximately $16,000 attorney fees.
Mary and Jack were married in 1966. They had one child, Joel, born in 1968. Jack's two children from a previous marriage apparently lived with Jack and Mary until shortly before this litigation arose, at which time they left to live with their mother.
Mary testified: She is 38 years old and in good health. She is a high school graduate and worked for a short time at the outset of her marriage, but then stopped working in order to raise the family. At the time of trial, she had again worked as a secretary for a period of six months; working 25 hours per week, she was earning a gross income of approximately $13,000 per year. She did not consider herself a qualified secretary, and had enrolled in college secretarial courses. She cannot work full time while raising Joel. The yearly expenses for her and Joel amount to approximately $43,000.
Jack testified: He is a sole practitioner attorney with offices in Chicago and Palatine. He is 52 years old and in good health. His law firm was a sole proprietorship until 1980, when he incorporated it. His personal Federal income tax returns for the years 1976-1981 reflect an income from his law firm ranging from $60,000 to $75,000. His present salary is $1,000 per week. He conceded, however, that in 1981 he borrowed $50,000 from the firm which "could be considered" income to him. In the same year, he borrowed an additional $32,000 from the firm, which funds were "earmarked" for the firm's "defined plan pension program." The corporation's Federal corporate income tax return for the 1980-1981 fiscal year showed gross receipts of approximately $547,000, gross income of $180,000 and taxable income of $32,000.
Additional evidence admitted at trial relevant to valuation of the items of marital property included the following:
Jack's Law Firm. No expert testimony was presented. Jack testified that the corporation employed no attorneys other than himself and he employed one full-time and one part-time secretary. At the time of trial, the corporation's business was "down." The accounts receivable totaled $3,000. Jack had transferred to the corporation his one-third interest in the Palatine office building in which the law firm is located. The corporation also owns a 1977 Mercedes car which Jack valued at $15,000 and a 1981 Toyota truck, purchased for $9,000 cash. Mary introduced into evidence a financial statement prepared by Jack in 1979 for use in securing a bank loan in which he valued the law firm at $150,000.
The Law Firm's Pension Plan. No expert testimony was presented. Jack testified that the law firm had established a "defined benefit pension plan" which had no money in it, and that he had borrowed $32,000 from the corporation which was "earmarked" for the pension fund.
The Marital Home. The parties stipulated that it was worth $160,000 and carried a mortgage balance of $18,000. The furnishings in the home were worth approximately $7,000.
The Wisconsin Condominium. The parties stipulated that it was worth $118,000 and had a $50,000 mortgage.
The Unimproved Rand Road Lot. In 1977, the parties purchased a 50% interest in this property for $48,000. It had no mortgage.
The Palatine Office Building. In 1981, Jack and two equal partners purchased this building for $165,000. Jack assigned his one-third interest to his corporation. Jack's appraiser valued the property at $245,000; Mary's appraiser valued it at $265,000. It carried two mortgages which totaled $140,000 and according to Jack had "unpaid improvements" totaling $40,000.
The Unimproved Wisconsin Lot. Jack and Mary purchased an undivided one-fourth ...