Stantcheva v. Stantcheva

Stantchev v. Stantcheva is an equitable distribution case based upon the date of valuation. Two months before the date of filing the Husband had made a transfer from a marital account in the U.S. to a marital account in Bulgaria, and during the transfer and exchange of the funds from U.S. Dollars to Bulgarian leva there was a diminution of the value of the account by about $9,000. Nothing about the transfer was improper, but the trial court distributed the account based upon the pre-transfer value. This was error. The Court should have valued and distributed the account based upon the post-transfer value. Because the transfer was prior to the date of filing and there was nothing wrongful about it, both parties should equally bear the diminution resulting from the money transfer. The appellate court also directed the trial court to consider that there may be a similar diminution when the funds are transferred back into U.S. dollars, which should be also borne by both parties.

Stantchev v Stantcheva