The divorce process can be especially complex for high-earning executives who are concerned about what their financial picture might look like following the entry of a divorce. Because executives often receive compensation packages that consist not only of salary, but also additional benefits that can be tough to quantify, calculating alimony and child support payments can become quite complicated.
Executive compensation items most often include:
- Employee stock options
- Restricted stock
- Employee stock purchase plan
- Deferred compensation plan
- Cash bonuses
Whether the executive compensation is yours or your spouse’s, it is wise to seek legal representation as early in the divorce process as possible. Trying to handle the division of assets on your own exposes you to a lot risk. Your family law attorney can provide you with a list of documents necessary to properly calculate the value of the assets, and from there, we will clearly define what is considered marital property versus separate property – a distinction that will prove incredibly valuable if your case ends up at trial.
DeTorres & DeGeorge Family Law Attorneys are well-trained in executive compensation cases and will help you answer the following questions:
- Are the assets marital?
- Are they vested?
- How will they be valued?
- How will they be divided?
- What are the tax implications?
- How will they impact alimony and/or child support?
If you have questions regarding the best way to distribute these assets in your divorce, contact us today to schedule a consultation.
For more information, please call us at 908-304-9679.