In re Marriage of Nevedrova.

2024 COA 112. No. 23CA1278. Dissolution of Marriage—Property Disposition—Marital Property—Colorado Uniform Transfers to Minors Act.

October 10, 2024

Wife petitioned for dissolution of marriage. In their joint trial management certificate, the parties alerted the trial court that there were funds in dispute in an account established in the parties’ child’s name (the account). The account was identified as “UGMA_UTMA” on husband’s bank statements. Husband requested that the court hold the account until the child’s 18th birthday, order that no withdrawal occur without a court order, and allow both parties to only add money to the account. The district court dissolved the parties’ marriage and entered permanent orders. As part of the property division, the court divided the $132,950 balance in the account equally between the parties.

On appeal, husband argued that the district court lacked jurisdiction to divide the balance of the account. A gift or transfer to a minor made pursuant to the Colorado Uniform Transfers to Minors Act (UTMA) is irrevocable and conveys to the minor indefeasibly vested legal title to the property. Accordingly, an account established under the UTMA is the minor’s property, so it may not be considered marital property subject to property division in a dissolution of marriage action. Here, by ordering the account to be split equally, the district court implicitly found that it was marital property rather than the child’s property. However, the court of appeals could not determine from the record whether the account was established under the UTMA.

The judgment was reversed and the case was remanded for the district court to make further findings on the account, reconsider other issues as may be necessary following resolution of the account issue, and consider wife’s request for appellate attorney fees under CRS § 14-10-119.