Do I get a portion of my spouse’s stock options in a divorce?
Share Stock Options Divorce Law
Do I get a portion of my spouse’s stock options in a divorce?
Yes, if a spouse earned stock options during the marriage, most courts will award at least a portion of the options, or the value of the options, to the other spouse in the event of a divorce.
Stock options are frequently granted as a form of compensation — or in lieu of additional compensation — by many businesses. Particularly in highly entrepreneurial firms, the potential riches that stock options can sometimes provide are the most important part of an overall pay package. It is estimated that at least 10 million American employees held stock options in 2000, up 10 fold from the number holding options in 1992.
As courts are still playing “catch-up” and figuring out how to deal with stock options in a divorce, in many states there are no set laws or clear “rules of thumb” for judges and courts to apply, as options are in many ways different from other forms of property. For example, most stock options cannot be exercised immediately on issue. They typically “vest” over a period of 3 to 5 years, or longer, and continued employment with the same company is nearly always a condition for vesting. How does that play in a divorce?
Assume the wife was granted options for 1,000 shares of her employer’s stock, vesting over 5 years, on January 1st and while the value of the options went way up, the couple separated on December 31st of the same year. In order for the options to be exercised in full she would have to work at the same firm for 4 more years, and the firm, knowing that she held valuable options, might pay her below market rates. In that case would it be appropriate to award options for 500 shares to her husband (a full 50-50 split), or only options for 100 shares (50% of the 200 shares that vested during the marriage) something in between? These are issues courts have to grapple with.
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Categories: Family Law FAQ Tags: employment
Wa Common Law Marriage – Can a couple become legally married by living together as man and wife under washington’s laws?
Can a couple become legally married by living together as man and wife under washington’s laws?
No
[Note: a couple legally married at common law in another state is regarded as married in all states.]WASHINGTON
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Categories: Family Law FAQ Tags: legal
What is the age without parental consent in maine?
What is the age without parental consent in maine?
Male: 18
Female: 18
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If I pursue a lawsuit for injury from a defective product, what should I expect the defendant(s) to argue against me?
Defense Defective Porduct Defective Products
If I pursue a lawsuit for injury from a defective product, what should I expect the defendant(s) to argue against me?
The defendant(s) that you sue will likely argue that the injury was not caused by the defect. They will likely claim that the injury was your fault, and that you should not recover for your own negligence.
A common variation on the above argument is to assert that when the injury occurred you were not using the product in its intended manner, or that it was not foreseeable to the defendant that you would use the product in that manner when the injury occurred.
In some instances, your own lack of due care may reduce your recovery against a liable defendant. This is called comparative negligence or comparative fault. While a successful claim of comparative fault may reduce your recovery, if you have a solid case against the defendant(s), you may still recover. Also, if the “fault” attributed to you has nothing to do with the accident or your injury, it may not even apply. An example would be if you were intoxicated while driving an automobile which had defective brakes. If you were involved in an accident because of the faulty brakes, your intoxication may not be considered a “cause” of the accident and your injuries.
Since this is a broad and developing area of law, with many peculiarities to each jurisdiction, you should speak with an attorney in your community about the pros and cons of your case.
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Categories: Personal Injury Laws Tags: accident, injury
I am a blue-collar worker in the lumber industry. How are my lost wages calculated if I am injured in an accident? Are my gross wages or my net wages used? What kind of documentation is required?
Lost Wages Personal Injury Claim Injury Law
I am a blue-collar worker in the lumber industry. How are my lost wages calculated if I am injured in an accident? Are my gross wages or my net wages used? What kind of documentation is required?
Go to the doctor first. Don’t just decide on your own that you are injured and you have to stay home from work. You need to substantiate your claim with good documentation, and one way to do that is to see a physician or other health care provider and have a full examination. Be sure that if the doctor tells you to take time off from work, you don’t leave his or her office without a physician’s medical form in your hand, authorizing you to stay home from your job for the period of time necessary to recover from your injuries. The doctor may put a specific amount of time, or may leave it open-ended until your next appointment. That’s fine. Just have the document. This paper will prove that it was the doctor’s idea for you to take that time off, not your own.
Other documentation you need to support your claim is a letter from your employer indicating how much time you took off, what your hourly rate of pay or your monthly salary is, how many hours a week you work, and whether or not you typically work overtime. If you don’t usually work overtime but you would have during the time you were gone due to a change in work load or a special project, be sure to have your employer include that in the letter as well as the rate of overtime pay. In addition, if you were due for an increase and/or a promotion, make sure your employer notes this including how much more it would have been and when it was to take effect.
In most states, your lost wages are your gross earnings, not your net earnings. It is the amount of money you had the capacity to earn on your job prior to the accident. Some states only reimburse net wages, but present it all. Let them tell you they only reimburse net wages and don’t be afraid to question why. Also note that if your injury was as a result of an accident on the job and you are making a workers’ compensation claim, it varies from state to state whether you will be reimbursed for gross wages, a percentage of gross wages, or net wages.
When it’s time to go back to work, make sure you have a medical release form from your doctor indicating when you are able to go back. Any vacation taken or sick leave is also reimbursable as lost income and should be included.
To summarize, you will need the following documentation to support your claim for lost wages: a doctor’s authorization to take time off from work, a letter from your employer including your rate of pay and hours, and a return to work release from your physician.
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Categories: Personal Injury Laws Tags: accident, C, injury
How is a judgment lien created?
judgment lien collections
How is a judgment lien created?
State law, as well as local practice, typically differs with respect to the creation of a judgment lien. However, the actual mechanics of creation of a lien are usually similar. The judgment creditor first perfects the judgment and then tries to get the judgment debtor to “voluntarily” satisfy the judgment. If the judgment debtor fails to voluntarily satisfy the judgment, a judgment lien can be created against the judgment debtor’s property.
To create a judgment lien against real property, the judgment creditor typically obtains an Abstract of Judgment from the court that issued the judgment. The Abstract of judgment lists information about the judgment creditor, the judgment debtor and the amount of the judgment. The judgment creditor then records the Abstract of Judgment with the County Recorder in the county in which the judgment debtor owns real property. Usually the judgment lien is then satisfied from the sale proceeds when the judgment debtor sells the real property. In the meantime, the judgment creditor has a lien against the property (which in effect secures payment of the judgment) and the outstanding balance of the judgment increases due to the addition of statutory interest on the amount of the judgment which remains unsatisfied.
To create a judgment lien against personal property, the judgment creditor typically files a notice of judgment lien with the Secretary of State where the judgment debtor resides. The judgment lien notice contains information about the judgment creditor, the judgment debtor, the date, court of issuance and amount of the judgment, and the date that a copy the notice was sent to the judgment debtor. A judgment lien against personal property of the judgment debtor is typically effective against property upon which a security interest may be perfected, such as accounts receivable, chattel paper, equipment, farm products, and negotiable documents of title (although some states exclude certain property such as motor vehicles and inventory of a retail merchant held for sale). As with a real property lien, typically the judgment is satisfied from the sale proceeds when the judgment debtor sells property that is subject to the lien.
In most instances, any property of the judgment debtor which is transferred without satisfaction of the judgment is transferred subject to the lien. This means that if the lien is not satisfied prior to the transfer being made, the property remains subject to the lien in the hands of the transferee.
(Reviewed 11.10.08)
Categories: Bankruptcy laws Tags:
What does copyright protection cover?
Copyright Protection Copyright Law Intellectual Property
What does copyright protection cover?
Copyright protection exists for original works of authorship that involve some minimal level of creativity. The work must be fixed in a tangible medium of expression so that it can be perceived, reproduced, or otherwise communicated, either directly or with the aid of a machine/device. Works of authorship include: (1) literary works; (2) musical works; (3) dramatic works;(4) pantomimes and choreographic works; (5) pictorial, graphic, and sculptural works; (6) motion pictures and other audio-visual works; and (7) sound recordings. Ideas, concepts, principles, or methods of operation are not subject to a copyright, but the original work that is authored or created from such ideas or concepts may become subject to a copyright.
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Categories: Intellectual Property Laws Tags: C
Do I need to have an attorney to get a divorce?
Attorney Divorce Divorce Law
Do I need to have an attorney to get a divorce?
Although it is legal in many states to obtain a divorce without representation by counsel, it is always inadvisable, because of the complex issues involved.
If you have been married only a short time, have no children and little property, it may seem financially advantageous to “do it yourself”. However, a good lawyer will always pay for him/herself. Timing can often be crucial in getting a divorce; an attorney can best advise you when it will make the most sense in terms of insurance and taxes.
A skilled attorney can help you avoid personal and/or property matters that may cost you money down the road, and will represent your best interests in resolving any financial complications that may arise. An attorney also can help avoid the possibility of one party claiming that s/he was taken advantage of because all facts were not disclosed.
The mediation process can also help disputing partices in a divorce, even when both parties are represented by attorneys; click here for an article explaining how divorce mediation works.
For a discussion of the legal fees involved in a divorce, click here for a general explanation of the fees and click here for ways to reduce those fees.
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Categories: Family Law FAQ Tags: legal
Tn Parental Consent – What is the age with parental consent in tennessee?
What is the age with parental consent in tennessee?
Male: 16 – younger parties may obtain license in special circumstances.
Female: 16 – younger parties may obtain license in special circumstances.
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What is the age without parental consent in the district of columbia?
What is the age without parental consent in the district of columbia?
Male: 18
Female: 18
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