Legal Question in Family Law in Wisconsin

Divorce Property Settlement - Company Stocks

My divorce was finalized Nov. 5, 2002. Part of property settlement was I was to receive 50% of husband's Share Participation Plan (company stock). After months of my trying to figure out how-final answer from his company is that cannot transfer shares. Ex-spouse will need to sell shares (some are available some are in ''holding'' for period of 2 years - company policy). Bottom line, on Nov. 5th the share price was approx. $22 and now is approx. $18. I should receive over 500 shares which means my 500 shares are now worth approx. $4,000 less as he has not sold them yet. Am I entitled to receive what they were worth on Nov. 5th when they should have been mine (should I pay the penalty for the fact that he has not sold them yet??).


Asked on 2/22/03, 11:56 am

1 Answer from Attorneys
Mark Mahoney Cassiani Law Office, Wise Shepherd Law Office

Re: Divorce Property Settlement - Company Stocks

Hello,

The way that most divorce decrees are written is that you would be entitled to half of the value of the account on the date of divorce. So if the value goes up after that date, you dont get the increased value, but if it goes down, you dont suffer any loss. Your values under the genearl approach are measured from the divorce date. Of course, I dont have your legal documents to read, or the court transcript, or know the other facts of your situation, so I cant guarantee this conclusion for you. This is my best idea given what I know. Mark J. Mahoney, 920-984-4529

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Answered on 2/23/03, 10:03 am


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