Timothy Wade Keyt v. Nanci Suzanne Keyt

This is the second appeal in a divorce action. Husband appeals the division of marital property and the award of alimony in solido to Wife. In the 2005 Final Decree of Divorce, the trial court determined that the husband's shares of stock in the family business, which his parents gifted to him, were his separate property; however, the appreciation of that stock during the marriage, $1.7 million, was held to be marital property. The court awarded the wife 37.5 percent of the marital estate and alimony in futuro of $1,500 per month for the first year and $2,500 per month thereafter. This court affirmed the division of marital property but modified the award of alimony, holding that she was entitled to eight years of rehabilitative alimony but not alimony in futuro. The Supreme Court held that the appreciation of the husband's stock was his separate property, not marital property, and remanded the case to the trial court to reconsider the division of the marital estate and to reconsider the award of alimony due to the substantial reduction of the marital estate. On remand, the trial court awarded the wife 64 percent of the substantially reduced marital estate and granted her alimony in solido in the amount of $478,000. In this second appeal by the husband, we affirm the division of marital property, finding it is not inequitable under the circumstances, and we affirm the award of alimony in solido to Wife, finding that the award was based on the relevant factors in Tenn. Code Ann. _ 36-5-121(i).