Worcester Divorce Attorneys Handling Complex Property Division Cases
Many divorce cases are relatively straightforward when it comes to understanding what assets the couple owns and the amount of each spouse's income, but these two important issues can be far more complicated when executive compensation packages enter the picture.
The compensation of a high-level business executive may include forms of deferred income, such as stock options or other equity in the company, performance bonuses and golden parachutes. The extent to which these "assets" can be monetized — and the extent of interest a divorcing spouse has in such an asset for purposes of property division or alimony — are issues that need to be ironed out with the help of a skilled divorce attorney.
At Army & Army, L.L.C., we have been representing business executives and their spouses in Massachusetts divorce proceedings since 1996. Clients appreciate our breadth of knowledge, not only in family law matters, but also in business law. This allows us to handle even very complex property division cases, such as those that involve the division of executive compensation.
Massachusetts divorce cases require skilled and experienced attorneys. If you are a business executive or the spouse of a high-level executive considering divorce, contact our Grafton or Worcester divorce attorneys for a consultation.
Valid Claims of an Executive Spouse
While it is readily apparent that both spouse's have a financial interest in property and savings acquired during the marriage, there are a number of gray areas in which a case can be made in favor of or against an interest in something most would consider separate property, such as when:
- One spouse supported the other financially while they were in graduate school, creating a potential financial interest in that person's career
- A nonexecutive spouse made a substantial contribution to the success of the business spouse's career by the services he or she provided
This can affect whether a business interest, stock option, or other asset is considered separate or marital property in business executive divorce.
If an interest can be proven, there remains the task of how that interest will be compensated, whether it is in the form of a direct division of an asset (more money from the savings account), more or a longer-term of spousal support, or additional child support payments.
Protecting the Interests of Business Executives
The fact is, many spouses claim that they made a significant contribution to a spouse's career success when they, in fact, did little more than any other person living in the same household. If you received numerous promotions during your career, if you were rewarded with significant perks and deferred compensation — these successes may be wholly through your own efforts.
Your divorce lawyer will work with you to disprove opposing claims. You divorce lawyer will seek to limit the characterization of assets as marital rather than separate and the consideration of earning potential and appreciated value.
Business Executives and Divorce
Every divorce is different. Until the facts are examined in detail, it is impossible to know the degree of financial interest a spouse may have in a business executive's compensation package. Talk with a Massachusetts complex property division lawyer at Army & Army, L.L.C. Contact our law firm online or by calling 888-339-4206.
