• The information provided on this web blog is public information and is not individualized legal advice. Do not take any legal action on any information contained in this blog!!! Always consulting with an attorney in your state about your legal issues. The presentation of information on this blog does not establish any form of attorney-client relationship with my firm or with me. While I have attempted to maintain the information on this blog as accurately as possible, this information may contain errors or omissions, for which I disclaim any liability. Case law from other jurisdictions discussed here are discussed for comparative purposes only. The author is licensed to practice only in the Commonwealth of Virginia and not in any other state. Despite the foregoing, this material could be considered to be ADVERTISING MATERIAL. The responsible party for this blog is Robert R. Hagy, II Esq., an attorney licensed to practice law in Virginia, of the Law Offices of Rob Hagy, P.C., whose address is 154 Hansen Rd., Suite 202-B, Charlottesville, Virginia 22911.

Twitter Updates

    follow me on Twitter

    Recent Massachusetts Case Says Stock Options Not Shareable in Divorce Upon Ex-Spouse's New Job.

     A recent case from Massachusetts shows that being as clear as possible with your attorney about your wishes when negotiating a separation agreement will help you greatly should a dispute arise later on. In that case, a divorcing couple negotiated a separation agreement that merged into their divorce agreement under which the husband, a corporate executive, was to pay his wife $900 per week in alimony and $334 a week in child support. The agreement also said that should the husband receive “any manner of bonus” from his employer, he would share 31 percent of it with his ex-wife — 15 percent as alimony and 16 percent as child support. But the agreement did not spell out what would be considered a “bonus.”

    Following the divorce, the husband took a new job where his compensation consisted of a salary, a bonus of up to 40 percent of his salary and stock options. Under his employment agreement, his options would vest early should the company be sold or merged. The company was subsequently sold. The husband was terminated and exercised his stock options, worth $1 million. The wife demanded to share in the options, characterizing them as a “bonus.” The husband, however, insisted that they did not qualify as a bonus because they were not a performance-based reward. He also pointed out that when they were negotiating the separation agreement, he repeatedly rebuffed the wife’s attempt to count potential stock options earned post-separation as part of any shareable bonus, insisting he would only pay alimony and support on cash bonuses. The Massachusetts Appeals Court agreed with the husband, noting that the term “bonus” can mean many things, but the intent of the parties is what governs, and the husband had made his intent clear. Still, the court found that the husband would still owe a portion of the proceeds as child support, since the obligation to pay child support isn’t something that can be negotiated away. If you’re interested in learning about how the courts might handle such an issue in your state, talk to a family lawyer where you live.

    May 09, 2023

    December 19, 2022

    December 13, 2022

    December 12, 2022

    August 01, 2022

    July 25, 2022

    March 08, 2022

    December 31, 2020

    March 31, 2020

    March 13, 2016


    Important Laws Affecting Family Law Matters

    • Virginia Code Section 20-107.3
      This provision of Virginia law governs the manner and rules for dividing martial property upon divorce.
    • Virginia Code Section 20-108.2
      This provision of Virginia law sets forth the child support guidelines-a table of reference for determining the base monthly child support obligation.
    • Virginia Code Section 20-124.3
      This statute sets forth the factors that a court will consider in divorce proceedings, temporary proceedings, or modification proceedings to determine what custody and visitation arrangement would be best for the child or children involved.

    Child Support Calculator