James M. Grace v. Laurel J. Peterson, P.c. and Kathleen Grace

Summary

The Alaska Supreme Court affirmed the classification and equal division of the Integrity proceeds because the record did not establish that the parties had ceased operating as a joint economic unit or support allocating the relevant losses to James's separate estate. It reversed the equal division of the INA proceeds, holding that those proceeds replaced the underlying personal-injury and loss-of-consortium claims and therefore had to be divided according to the proportions of the anticipated underlying recovery. The case was remanded for division of the INA recovery under that approach.