Legal Question in Family Law in Georgia
Stock options
I have been married for 4 years, have a 3 yr. old son, and my wife just recently asked for a divorce. She started with a new company in June. In addition to a substatial pay increase, she will receive a $25,000 bonus in Jan., and 10,000 shares of pre-IPO stock that could potentially be worth hundreds of thousands. We have agreed (in theory)to a 50/50 split of everything, and each have exact same amount in our respective 401 k plans. She is reluctant to talk about the bonus and has not mentioned at all the stock options. I believe the stock is 10,000 shares, option price at $1.10/share, 20% avail after 12 months, after, 10% per quarter for the subsiquent 24 months, fully vested at 3 yrs. Percentage wise, I have earned equal to 75% total household for the last 3 yrs. Se now, however, makes more. I believe this to be the reason for the divorce. Am I entitled to half the bonus? Am I entitled to half the stock options? If so, how would it work?
2 Answers from Attorneys
Re: Stock options
If you and she cannot resolve this and a judge or jury has to decide, there are no hard and fast guidelines other than "to do equity". Division of all property would be made by judge or jury depending on what is deemed to be a fair division of all property.
Re: Stock options
Georgia is an equitable division state, not a community property state, so there is no presumtion of 50%. It is a matter of fairness, depending on several factors, some of which you have mentioned such as how long the marraige, earnings, contributions, lifestyle, etc. I imagine you would be entitled to some portion of the bonus and/or stock options, but it would take a more indepth look at your case to determine the probable outcome.
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