Delayed Compensation Income May Be Marital Property
It is not uncommon for people to receive part of their compensation or severance package in the form of delayed compensation. Such packages can cause problems for both parties in a divorce property settlement. A spouse may argue that delayed compensation was earned for work performed during the course of the marriage. Yet, the receiving spouse may argue that the compensation should be characterized as separate property because it will not be earned income until after the property settlement has been finalized.
We Will Fight Hard To Protect Your Interests in Missouri, Illinois, Kansas, Oklahoma, Nebraska, and Indiana
Missouri, Illinois, Kansas, Oklahoma, Nebraska, and Indiana are equitable division states. Any dispute over whether delayed compensation should be considered marital property or separate property is ultimately up to the judge in applying the applicable law. Resolving the dispute is often the key to a property settlement. In some cases, a spouse or the other will find it advantageous to argue that a particular asset is separate property and should not be subject to division.
Divorce property settlements between spouses of high net worth require skillful knowledge of how courts apply case law decisions to specific property settlements. Stange Law Firm, PC, is able to resolve the most complex issues involving financial property such as delayed compensation income, executive bonuses, and investment accounts.
If delayed compensation will be a concern in your pending divorce, make sure you have a lawyer who has experience dealing with this issue.
Contact Our Multi-State High Asset Divorce Attorneys in Missouri, Illinois, Kansas, Oklahoma, Nebraska, or Indiana
To learn more about our approach to high-asset property division, contact us online or by phone to schedule a confidential consultation at any of our convenient locations. We have locations in St. Louis, Chicago, Kansas City, Indianapolis, Columbia, Springfield, Wichita, Topeka, Tulsa, Oklahoma City, Omaha, Lincoln, and beyond.