From Law Office of Russell D. Knight - In this episode, we explore the complexities of 'Stock Options And Divorce In Illinois.' Navigating the division of sophisticated financial assets like stock options during an Illinois divorce can be challenging. We'll break down the types of stock options, including employment-based stock options, and discuss how they are classified as marital property under Illinois law (750 ILCS 5/503(b)(3)).We delve into the practical aspects of dividing stock options in a divorce, highlighting the importance of creating a Marital Settlement Agreement. The concept of a Constructive Trust, as illustrated in cases like Perkins v. Stuemke, plays a crucial role in ensuring the fair division of these assets. We'll provide examples, such as the detailed stock options agreement between Ronald and Wendy, to illustrate how these arrangements work in practice.Understanding the implications of stock options on maintenance and child support is essential. We'll discuss how the exercise of stock options and restricted stock units can be considered income, affecting calculations for child support and spousal maintenance. Legal precedents like In re Marriage of Colangelo shed light on how these financial events are treated under Illinois divorce law.Lastly, we consider whether stock options are worth fighting over in a divorce. The uncertain value of these assets often makes them a contentious issue. We'll explore alternatives, such as awarding other assets in lieu of stock options, and discuss the pros and cons of such arrangements. For more information on this topic and personalized legal advice, contact the Law Office of Russell D. Knight in Chicago, Illinois, to schedule a free consultation.Law Office of Russell D. Knight1165 N Clark St #700, Chicago, IL 60610, United States(773) 334-6311https://www.google.com/maps?cid=13056420905624162796
from Straffi & Straffi Attorneys at Law https://www.buzzsprout.com/2026843/15387274-stock-options-and-divorce-in-illinois-russell-d-knight
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